{"id":84379,"date":"2020-01-16T09:10:20","date_gmt":"2020-01-15T22:10:20","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=84379"},"modified":"2020-01-16T10:02:50","modified_gmt":"2020-01-15T23:02:50","slug":"the-overnight-report-to-7000-and-beyond","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2020\/01\/16\/the-overnight-report-to-7000-and-beyond\/","title":{"rendered":"The Overnight Report: To 7000, And Beyond (?)"},"content":{"rendered":"

The local market looks poised to surpass the 7000 (ASX200) on a positive lead from Wall Street after China and the US signed off on Phase One <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
World Overnight<\/strong><\/span><\/td>\n<\/tr>\n
SPI Overnight (Mar)<\/strong><\/span><\/td>\n6947.00<\/strong><\/span><\/td>\n+ 17.00<\/strong><\/span><\/td>\n0.25%<\/strong><\/span><\/td>\n<\/tr>\n
S&P ASX 200<\/strong><\/span><\/td>\n6994.80<\/strong><\/span><\/td>\n+ 32.60<\/strong><\/span><\/td>\n0.47%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500<\/strong><\/span><\/td>\n3289.29<\/strong><\/span><\/td>\n+ 6.14<\/strong><\/span><\/td>\n0.19%<\/strong><\/span><\/td>\n<\/tr>\n
Nasdaq Comp<\/strong><\/span><\/td>\n9258.70<\/strong><\/span><\/td>\n+ 7.37<\/strong><\/span><\/td>\n0.08%<\/strong><\/span><\/td>\n<\/tr>\n
DJIA<\/strong><\/span><\/td>\n29030.22<\/strong><\/span><\/td>\n+ 90.55<\/strong><\/span><\/td>\n0.31%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500 VIX<\/strong><\/span><\/td>\n12.42<\/strong><\/span><\/td>\n+ 0.03<\/strong><\/span><\/td>\n0.24%<\/strong><\/span><\/td>\n<\/tr>\n
US 10-year yield<\/strong><\/span><\/td>\n1.79<\/strong><\/span><\/td>\n– 0.03<\/strong><\/span><\/td>\n– 1.65%<\/strong><\/span><\/td>\n<\/tr>\n
USD Index<\/strong><\/span><\/td>\n96.96<\/strong><\/span><\/td>\n– 0.14<\/strong><\/span><\/td>\n– 0.14%<\/strong><\/span><\/td>\n<\/tr>\n
FTSE100<\/strong><\/span><\/td>\n7642.80<\/strong><\/span><\/td>\n+ 20.45<\/strong><\/span><\/td>\n0.27%<\/strong><\/span><\/td>\n<\/tr>\n
DAX30<\/strong><\/span><\/td>\n13432.30<\/strong><\/span><\/td>\n– 24.19<\/strong><\/span><\/td>\n– 0.18%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Greg Peel is still on holidays. In the meantime, Jessica Amir from Bell Direct is providing a snapshot of insights and developments from overseas markets overnight.<\/em><\/p>\n

By Jessica Amir, Bell Direct<\/p>\n

It’s done. Finally. China and the US have inked the highly anticipated ‘phase one’ of the trade deal and US equities ended with a bumpy day of trade, albeit ended pointing in the right direction.<\/span><\/span><\/p>\n

Traders and investors had been awaiting the signing of the so-called phase one trade agreement for nearly two years, as the conflict between the world’s largest economies has dragged. The US-China trade deal includes provisions to curb intellectual property theft along with forced technology transfers. It also increases Chinese purchases of US products<\/a> by $200 billion. <\/span><\/span><\/p>\n

The Australian share market is eyeing another record breaking day with the futures currently suggesting a 0.26%\/18 point lift, which means, we will rise over the 7,000 point milestone. Yesterday the S&P ASX200 hit a fresh record high for the second day in a row, rising 0.47%\/33points to 6994.8.<\/span><\/span><\/p>\n

US equities touched record highs before giving up most of those gains. The Dow Jones added 0.3%\/91 points, while the broader S&P 500 rose 0.2%\/6 points with the Nasdaq ending virtually flat, rising 0.08%\/7 points. <\/span><\/span><\/p>\n

Gold<\/span><\/span><\/strong> rose by US$10.80\/0.6% to US$1,555 an ounce.  <\/span><\/span><\/p>\n

Oil <\/span><\/span><\/strong>fell 0.45% to US$57.97 a barrel, giving up the prior session’s gains as crude output continues to rise, hitting a record. <\/span><\/span><\/p>\n

Iron ore<\/span><\/span><\/strong> gained 0.85% to US$94.83 a tonne. <\/span><\/span><\/p>\n

Australian dollar <\/span><\/span><\/strong>tracked steady overnight ahead of the deal being signed and at 69.03 US, holding a week high. <\/span><\/span><\/p>\n

What else to watch today<\/span><\/span><\/strong><\/p>\n

Another quiet day with no economic news, so all eyes will be on company announcements. <\/span><\/span><\/p>\n

Australia’s premier oil player, Woodside Petroleum (the 14th<\/sup> largest listed company in Australia) reports fourth quarter 2019 results. Yesterday its shares rose 0.4% to $35.80. <\/span><\/span><\/p>\n

Also keep an eye on the largest stock on the exchange, CBA. Bell Potter issued guidance for what to expect from their upcoming 1H20 result on Wednesday 12 February. We are expecting statutory NPAT of ~$5.79bn (~$4.29bn excluding CFSGAM gain on sale of ~$1.50bn), cash NPAT (continuing operations) ~$4.35bn and 200¢ interim ordinary dividend. Yesterday CBA’s shares rose 0.6% to $83.66. (It’s getting closer to BP’s price target of $86.00). <\/span><\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Spot Metals,Minerals & Energy Futures<\/strong><\/span><\/td>\n<\/tr>\n
Gold (oz)<\/strong><\/span><\/td>\n1555.10<\/strong><\/span><\/td>\n+ 8.70<\/strong><\/span><\/td>\n0.56%<\/strong><\/span><\/td>\n<\/tr>\n
Silver (oz)<\/strong><\/span><\/td>\n17.96<\/strong><\/span><\/td>\n+ 0.20<\/strong><\/span><\/td>\n1.13%<\/strong><\/span><\/td>\n<\/tr>\n
Copper (lb)<\/strong><\/span><\/td>\n2.81<\/strong><\/span><\/td>\n– 0.01<\/strong><\/span><\/td>\n– 0.32%<\/strong><\/span><\/td>\n<\/tr>\n
Aluminium (lb)<\/strong><\/span><\/td>\n0.80<\/strong><\/span><\/td>\n+ 0.00<\/strong><\/span><\/td>\n0.14%<\/strong><\/span><\/td>\n<\/tr>\n
Lead (lb)<\/strong><\/span><\/td>\n0.89<\/strong><\/span><\/td>\n+ 0.02<\/strong><\/span><\/td>\n1.90%<\/strong><\/span><\/td>\n<\/tr>\n
Nickel (lb)<\/strong><\/span><\/td>\n6.25<\/strong><\/span><\/td>\n+ 0.02<\/strong><\/span><\/td>\n0.30%<\/strong><\/span><\/td>\n<\/tr>\n
Zinc (lb)<\/strong><\/span><\/td>\n1.08<\/strong><\/span><\/td>\n+ 0.01<\/strong><\/span><\/td>\n0.88%<\/strong><\/span><\/td>\n<\/tr>\n
West Texas Crude <\/strong><\/span><\/td>\n57.81<\/strong><\/span><\/td>\n– 0.42<\/strong><\/span><\/td>\n– 0.72%<\/strong><\/span><\/td>\n<\/tr>\n
Brent Crude<\/strong><\/span><\/td>\n64.00<\/strong><\/span><\/td>\n– 0.49<\/strong><\/span><\/td>\n– 0.76%<\/strong><\/span><\/td>\n<\/tr>\n
Iron Ore (t) futures<\/strong><\/span><\/td>\n95.30<\/strong><\/span><\/td>\n– 0.85<\/strong><\/span><\/td>\n– 0.88%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS<\/span><\/td>\n<\/tr>\n
COL<\/td>\nCOLES GROUP<\/td>\nDowngrade to Underweight from Equal-weight<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n
EVN<\/td>\nEVOLUTION MINING<\/td>\nUpgrade to Outperform from Underperform<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nDowngrade to Neutral from Outperform<\/td>\nMacquarie<\/td>\n<\/tr>\n
FMG<\/td>\nFORTESCUE<\/td>\nDowngrade to Hold from Buy<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
IGO<\/td>\nINDEPENDENCE GROUP<\/td>\nDowngrade to Lighten from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
MOZ<\/td>\nMOSAIC BRANDS<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
MTS<\/td>\nMETCASH<\/td>\nUpgrade to Neutral from Underperform<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
NWL<\/td>\nNETWEALTH GROUP<\/td>\nUpgrade to Buy from Neutral<\/td>\nCiti<\/td>\n<\/tr>\n
OGC<\/td>\nOCEANAGOLD<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
ORE<\/td>\nOROCOBRE<\/td>\nDowngrade to Sell from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
PDL<\/td>\nPENDAL GROUP<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
SBM<\/td>\nST BARBARA<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
WOW<\/td>\nWOOLWORTHS<\/td>\nUpgrade to Equal-weight from Underweight<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For more detail go to FNArena's Australian Broker Call Report<\/a>, which is updated each morning, Mon-Fri.<\/p>\n

All overnight and intraday prices, average prices, currency conversions and charts for stock indices, currencies, commodities, bonds, VIX and more available on the FNArena website.  Click here<\/a>. (Subscribers can access prices on the website.)<\/em><\/p>\n

(Readers should note that all commentary, observations, names and calculations are provided for informative and educational purposes only. Investors should always consult with their licensed investment advisor first, before making any decisions. All views expressed are the author's and not by association FNArena's – see disclaimer on the website)<\/strong><\/em><\/p>\n

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FNArena is proud about its track record and past achievements: Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The local market looks poised to surpass the 7000 (ASX200) on a positive lead from Wall Street after China and the US signed off on Phase One (Available for non-subscribers after 10am)<\/p>\n","protected":false},"author":3,"featured_media":84385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[84],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/84379"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=84379"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/84379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/84385"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=84379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=84379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=84379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}