The Australian market looks set to open higher after gains on Wall Street where the S&P 500 index hit a record intraday high for the seventh time in July.

The SPI is trading up 18 points at 5536.

Locally, in economic news, the Reserve Bank of Australia (RBA) releases the index of commodity prices for July.

The Australian Industry Group releases its performance of manufacturing (PMI) index, the RP Data Core Logic’s Home Value Index for July is due out.

No major equities news is expected.

Key Numbers

• The SPI is trading up 18 points at 5536
• AUD traded at 76.01 US cents on Saturday morning
• On Wall St, Dow -0.1%, S&P 500 +0.2%, Nasdaq +0.1%
• In New York, BHP +0.4%, Rio flat
• In Europe, Stoxx 50 +0.8%, FTSE flat, CAC +0.4%, DAX +0.6%
• Spot gold +1.2% to $US1351.28 an ounce
• Brent crude -0.6% to $US42.46 a barrel
• Iron ore -2.2% to $US59.37 a tonne

What’s on today

Overseas data: China PMI and China Caixin manufacturing PMI (both for July)

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