Key News Overnight
US stocks made their biggest monthly gain in three years as investor sentiment lifted following better-than-expected corporate earnings and the Federal Reserve’s dovish turn in its latest policy statement. The S&P 500 and the Dow Jones both climbed more than 7% over January;
President Donald Trump declared that negotiations in Washington over a possible trade deal with China were making progress but no deal will be final until he meets with Chinese President Xi Jinping;
Gold extended its gains overnight after the Federal Reserve signalled its intentions to be more patient with rate hikes and slowing growth and trade tensions continue to cloud the economic outlook. Gold rose 0.1% to US$ 1,320.7/oz;
Nickel posted its best January gain in more than two decades amid expectations that demand will rise as a production deficit widens. Nickel climbed 1.0% overnight to $US 12,407;
Oil fell overnight but recorded its best January gain on record as OPEC’s emergency supply cuts took hold and Venezuela, Libya and Iran registered involuntary declines. Brent crude fell 0.7% to $US 61.09/bbl
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GRB, TEG, FMG, IGO, DRM, BOT, GCY, DCN, SFR, G1A, OEL, SO4, MMI, MDKA.IDX, MOD
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