Here's Your 20-Second Guide To What Aussie Traders Will Be Talking About This Morning

Getty/Chris Hondros

– With a lot of the world out for Monday, the action was fairly subdued but the S&P has managed to stretch its winning run to 5 days – the best result since October last year.

– At the close the S&P 500 was up 7 points or 0.38% to 1872 in a remarkable recovery from the recent lows, helped by some reasonable company earnings over the last couple of days. The Dow was 40 points higher, rising 0.25% to 16,449, while the Nasdaq was up 0.65% to 4,122, aided by Weibo’s continued gains in its second day of trade.

– This points to a solid open for Asia and the Australian market today after the long weekend.

– On Currency markets, there hasn’t been a lot of action but Westpac reckons that things are looking up for the US dollar with the economic surprise index (ratio of better-than-expected data to worse-than-expected data) pointing to further US dollar gains. Euro sits at 1.3795, the pound is at 1.6792 and USDJPY sits at 102.59. The Aussie dollar is largely unchanged at 0.9325.

– Commodity markets were not quiet though, with a sea of red as palladium, wheat, coffee, lean hogs, oats, platinum, corn, lumber, natural gas, soybeans and rice all lost 1% or more. Wheat and palladium tanked more than 3%. Gold was under pressure as well at $1,288 oz but the April Nymex crude contract is at $104.36.

On the data front today we get the Australian leading index along with a similar index in Japan before CPI in Hong Kong and EU construction. Tonight in the US, the Redbook index is out along with existing home sales and the Richmond Fed index.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.