ASX tipped to edge higher after Wall Street retreats; Iron ore rises



  • SPI futures were up by just 3 points, or 0.04% and hinting that the ASX200 will add to Tuesday’s gains
  • US markets ended slightly lower overnight, pulling back from all-time highs. The Dow dropped 0.3%, and the S&P500 and Nasdaq were each down by 0.1% 
  • Optimism over the global economic outlook pushed Brent crude prices 1% higher to $US62.77 a barrel, and US oil 1.2% higher to $US59.34 
  • Iron ore improved by 1.4% to $170.90 a tonne. A weaker USD helped push gold prices higher
  • Thousands of jobs could be at risk after investment banks Credit Suisse and Citigroup took legal action to liquidate the Whyalla steel mill in South Australia and the Tahmoor coal mine in NSW

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Good morning, and welcome to Markets Live. Steering the ship today is Alex Druce.

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SPI futures are pointing to a modest gain in early trade, even after Wall Street faded from record highs overnight. Oil and iron ore prices improved.

This blog is not intended as financial advice

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