ASX
An investor is reflected in a window as he looks at boards displaying stock prices and an advertisement for zero percent interest rate for purchasing a car at the Australian Securities Exchange in central Sydney, Australia, July 8, 2015. Reuters/David Gray
  • In US economic data, consumer confidence rose from 101.5 to 103.0 in September, above expectations near 96.1. Home prices fell by 0.2% in July to stand 5.0% higher than a year ago. Chain store sales were 0.9% higher than a year ago in the latest week, unchanged on the previous week. And the Dallas Federal Reserve services index rose from +9.3 to +12.8 in September.
  • European shares eased modestly on Tuesday. Shares in miner Glencore rebounded by 16.9% after falling 29.4% the day before with brokers saying that debt worries were overdone. The FTSEurofirst 300 index fell by 0.6% with the UK FTSE lower by 0.8% while the German Dax lost 0.4%. In London trade, Australian mining shares rose with shares in BHP Billiton up by 1.5% while Rio Tinto lifted by 1.8%.
  • US sharemarket indexes ended mixed on Tuesday. Economic data was better than forecasts and investors prepared for the release of key jobs data later in the week. Shares in Yahoo rose by 2.4% on news the company is preparing to spin off Alibaba. The Dow Jones index rose by 47 points or 0.3% with the S&P 500 up by 0.1% while the Nasdaq was lower by 26.6 points or 0.6%.
  • US treasury prices rose again on Tuesday (yields lower) as investors took on a cautious posture moving into the release of key economic data later in the week. US 2 year yields fell by 4 points to 0.65% with US 10 year yields down by 5 points to 2.06%.
  • The US dollar was mixed against major currencies in European and US trade. The euro fell from highs near US$1.1275 to lows near US$1.1195, ending US trade near US$1.1250. The Aussie dollar rose from lows near US69.40c to highs around US70.15c, ending US trade near US69.90c. And the Japanese yen eased from 119.25 yen per US dollar to JPY120.10, before ending US trade near JPY119.77.
  • World oil prices rose on Tuesday. Investors were encouraged by a stronger reading of US consumer confidence. And there were hopes that data would show a drawdown in US oil stocks in the latest week. Brent crude rose by US89c or 1.9% to US$48.23 a barrel while US Nymex crude rose by US80c or 1.8% to US$45.23 a barrel.
  • Base metal prices rose by up to 1.7% on the London Metal Exchange with zinc leading the way higher. But tin fell by 1.0% and lead lost 0.1%. The Comex gold futures price fell by US$4.90 or 0.4% to US$1,126.80 per ounce. Iron ore fell by US$1.30 or 2.4% to US$56.00 a tonne.

Ahead: In Australia, building approvals and private sector credit data are released. In the US, the ADP employment index is released together with the Chicago purchasing managers index and weekly mortgage data. Federal Reserve chair Janet Yellen delivers remarks to a conference at 5am AEST.

CommSec

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