IG Markets - Morning Prices April 17

In US trade, markets were mixed, with the Dow enjoying gains, the S&P flat and the Nasdaq losing ground. Economic data was also mixed, with US retail sales coming in better than expected, but the Empire State Manufacturing Index much lower than anticipated. Citigroup results beat expectations and helped the Dow to its gains, while falls in Apple weighed on the S&P and the Nasdaq.

Among the major averages, the Dow Jones Industrial Average was up 0.6% at 12921. The S&P was 0.1% lower at 1370, while the NASDAQ shed 0.8% to finish at 2988.

Commodities were mostly weaker, but enjoyed some relief on the back of a softer US dollar. BHP’s ADR is pointing to a 0.3% drop at the open to $34.20. We could see gold and oil stocks outperform after the two commodities gained ground. Later today, we have a Rio Tinto production report to look out for. Some of the financials could get a lift from Citigroup’s report, which showed fixed-income trading revenue more than doubled from the fourth quarter.

Ahead of the open, we are calling the Aussie market up 0.1% at 4307. On the local economic front, we have monetary policy meeting minutes and new motor vehicle sales to look out for. Interest rates will remain a point of focus, particularly with the banks now acting independently of the RBA. Traders will be drawn to the RBA minutes for further details on the dovish policy statement. Many analysts continue to peg a rate cut at the RBA's May meeting, though the monthly inflation data will be critical.

Market Price at 6:30am AEST Change Since Australian Market Close Percentage Change
AUD/USD 1.0356 0.0029 0.28%
ASX (cash) 4307 5 0.12%
US DOW (cash) 12912 70 0.55%
US S&P (cash) 1369.0 2 0.15%
UK FTSE (cash) 5671.0 26 0.46%
German DAX (cash) 6639.0 67 1.02%
Japan 225 (cash) 9520 49 0.52%
Rio Tinto Plc (London) 34.40 -0.06 -0.17%
BHP Billiton Plc (London) 18.93 0.04 0.21%
BHP Billiton Ltd. ADR (US) (AUD) 34.20 -0.11 -0.32%
US Light Crude Oil (May) 103.09 0.94 0.92%
Gold (spot) 1652.0 5 0.27%
Aluminium (London) 2065.00 -5 -0.24%
Copper (London) 7984.00 -6 -0.08%
Nickel (London) 17505.00 -805 -4.40%
Zinc (London) 1996.00 12 0.60%

IG Markets provides round-the-clock CFD trading on currencies, indices and commodities. The levels quoted in this email are the latest tradeable price for each market. The net change for each market is referenced from the corresponding tradeable level at yesterday’s close of the ASX. These levels are specifically tailored for the Australian trader and take into account the 24hr nature of global markets.

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