International market movements suggest traders suspect that tonight’s US CPI data will not pose a problem. US stocks firmed, the Dollar fell and bond yields ticked lower. However, moves were moderate. While the S&P 500 index closed higher yesterday, it remained inside the previous day’s range, indicating overall caution.
Strong metal prices combined with the firm lead from US markets to provide a steady open for the local market
The International Energy Agency’s report on the extent to which global oil inventories have declined may be a good news is bad news story for oil. If this trend continues, markets are likely to start thinking about when OPEC and Russia will begin to taper their production ceiling. This may become a headwind for the oil price
CSL demonstrated just why it is a market darling with its result this morning. While the half-year benefitted from short term positives, the underlying result was strong with both core and new products performing well