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SPI Futures up 7 but a strong performance from both Big Tech , the iron ore price, the Resources in Europe and the A$ suggest we are on the right side of the ledger today.

Wall St finished higher on Friday, buoyed by a rise in energy stocks. The Dow closed 76 points higher (+0.22%). Up 127 points at best. Down 27 points at worst, while the S&P 500 and the Nasdaq added 0.1%, helped by gains in Apple +0.3%, sapping a two-day losing streak. China’s inflation data came out over the weekend. CPI rose by 0.1% YoY in August, lower than expectations of a 0.2% gain following the first drop in over two years of 0.3% in July. Not of huge import, markets care for PMI and industrial figures from China. ASX to edge higher at the opening bell; SPI Futures up 4 points (+0.06%). The ASX 200 was down 121 points last we

Very quiet day – no trend, no action. We’re hoping the CPI number on Wednesday kicks something off but its wishful thinking. We are in the seasonally dullest 4 months of the year and they are certainty living up to that reputation this week.

In a surprising turn of events, the ASX 200 reversed earlier losses and ended the day on a high note, closing up 36 points at 7192 (+0.5%), snapping a four-day losing streak. The iron ore price (up 2.4%) drove a recovery in Resources and the Aussie dollar with only some Chinese Credit numbers (more credit lending than expected) to blame with increased borrowing from local governments to fund infrastructure. After the Chinese CPI numbers at the weekend (they rose instead of fell) one economist says “Many data we’re seeing now shows that the economy’s slump may be slowing in the coming months”. T