International markets were mixed overnight with losses in Europe countered by gains in the US.

The FTSE shed 16 points (-0.3%) in London, whilst the French CAC (-0.6%) and German DAX (-0.6%) were slightly weaker.

Stateside, the Dow Jones added 85 points (+0.7%) to settle at 12068, whilst the S&P 500 (+0.6%) and Nasdaq (+0.3%) also finished higher.

It was a volatile session in America, with stock pushing sharply higher towards the close of the session amid reports that Italian PM Silvio Berlusconi was preparing to resign.

The euro retreated for a second consecutive session versus the yen and greenback amid increasing concern the debt crisis will spread to Italy.

Oil rose to a three-month high of US$95.52 a barrel, whilst gold rallied to a six-week high amid safe-haven demand.

Today's session will bring us data in the form of the trade balance and the latest NAB business confidence numbers (11:30am, AEDT).

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Morning Market Analysis: Double-bottom is a post from: Australian Stock Report Market Pulse Blog