6 things Australian traders will be talking about this morning

(Photo By Seb Daly / Sportsfile via Getty Images)

Stocks staged a comeback Tuesday after a three-session losing streak and after a series of strong earnings reports. The dollar rose, and Treasury yields edged lower.

To the scoreboard:

  • Dow: 25,415.19 +108.36 (+0.43%)
  • S&P 500: 2,816.29 +13.69 (+0.49%)
  • AUD/USD: 0.7427 +0.0020 (+0.27%)
  • ASX200 SPI futures (September contracts): 6,237 (+19)

1. Washington and Beijing may be able to avoid further trade escalations.Bloomberg reported trade reps from both sides are working toward a restart in trade talks, but a late report from the WSJ said talks were still just in the preliminary stages.

2. The US dollar index held its gains after rallying in the wake of yesterday’s dovish policy announcement by the Bank of Japan, with currency markets pretty quiet ahead of tonight’s FOMC meeting. Higher base metals prices and gains in materials stocks helped provide support for the AUD, which is holding above US74 cents this morning.

3. Amid rising tensions between Tehran and Washington, Iranian President Hassan Rouhani rebuffed President Donald Trump’s suggestion to meet. After the two leaders swapped a series of threats last week, Trump told reporters Wednesday he would be willing to meet Rouhani anytime and without preconditions. But Iranian officials said that would not be “appropriate” at this point, according to the Wall Street Journal.

4. American workers saw the largest pay raises in nearly a decade in the year up to June. The employment-cost index rose 2.8% last month from a year earlier, the Labour Department said, the most since September 2008.

5. US earnings season rolls on. Pfizer topped estimates and raised its forecast. Sony and Nintendo also beat. Apple impressed the market with its latest earnings results and the stock rose after-hours.

6. And bitcoin took a tumble, with prices down more than 5% this morning amid a broad-based crypto selloff.

Here’s a look at the upcoming economic calendar:

  • New Zealand employment data this morning.
  • US ISM manufacturing data tonight.
  • The Federal Reserve announces its rate decision at 4am tomorrow.
  • Tesla, Volkswagen and BMW report earnings.

Have a great day.

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