- ASX SPI 200 futures up 0.1% to 7,382.00
- Dow Average up 0.8% to 35,116.40
- Aussie up 0.4% to 0.7393 per US$
- U.S. 10-year yield little changed at 1.1705%
- Australia 3-year bond yield rose 1bp to 0.25%
- Australia 10-year bond yield fell 3bps to 1.16%
- Gold spot down 0.1% to $1,810.78
- Brent futures down 0.8% to $72.29/bbl
- 9am: (AU) July Markit Australia PMI Services, prior 44.2
- 9am: (AU) July Markit Australia PMI Composite, prior 45.2
- 11am: (AU) Australia to Sell A$800 Million 1.75% 2032 Bonds
- 11:30am: (AU) 2Q Retail Sales Ex Inflation QoQ, est. 0.8%, prior -0.5%
- 11:30am: (AU) June Retail Sales MoM, est. -1.8%, prior -1.8%
U.S. equities gained on Tuesday as mostly positive earnings were able to offset fresh concerns about China’s technology clampdown and the delta virus variant. The 10-year U.S. Treasury yield fell to 1.17% after dipping as low as 1.15%. Meanwhile the dollar was slightly weaker against major peers.
Second-quarter earnings have been robust for the most part, but the months-long advance in Treasuries could point to a weaker period ahead. Traders are awaiting key U.S. jobs data this week to gauge the recovery and are monitoring the impact of price pressures sparked by pandemic-related disruptions. Federal Reserve Governor Christopher Waller said he could back a tapering announcement by September, if the next two monthly U.S. employment reports show continued gains.
Have a craving for Ikea’s iconic meatballs? Now you can bring the smell of the furniture chain’s signature dish home. Ikea announced Tuesday it is offering a candle called Huvudroll that smells like the Swedish meatballs available at many of the chain’s locations. The candle is part of an Ikea Store in a Box package aimed at recreating the sensory experience of visiting a store. Ikea will offer the package, meatball candle included, as part of a sweepstakes celebrating the 10th anniversary of its U.S. Family Program, a free loyalty program which gives participants special offers and rewards. Ikea would not specify what else is in the Store in a Box, other than saying it will contain some of the most recognizable pieces of an Ikea store. The Store in a Box sweepstakes kicks off Aug. 6 and runs through Aug. 22.