With US President Barack Obama having given his farewell speech, the rhetoric of president-elect Donald Trump via twitter and news outlets now becomes very real.
2017 was never going to be boring
1. Trump: Trump in his first press conference spent some of his time defending himself against "nonsense" intelligence reports and stated he would not divest himself of his business holdings. He also reaffirmed a border tax on US companies that shift production overseas, sending his message to car companies saw the stocks of auto makers mixed in US trading, Ford motor company fell 2% while General motors rallied 1.1% in overnight trade.
More BusinessDay Videos
- Video duration
- 03:44
Another important US earnings season
Another important US earnings season
With US equity markets close to all-time highs, investors will be looking for a strong earnings season to justify rich valuations. It should also provide investors with a chance to assess how CEOs view many of the macro themes playing out, such as Trumps proposed fiscal stimulus. (This video was produced in commercial partnership between Fairfax Media and IG Markets)
Up Next
Who is Laura McBain?
- Video duration
- 01:38
- Video duration
- 01:38
Who is Laura McBain?
Who is Laura McBain?
Bellamy's CEO Laura McBain has been widely credited for transforming the family-run local company to a global brand.
Up Next
Fox allegedly settles sexual harassment case
- Video duration
- 00:39
- Video duration
- 00:39
Fox allegedly settles sexual harassment ...
Fox allegedly settles sexual harassment case
Former Fox News host Juliet Huddy allegedly settled for a six-figure sum in a sexual harassment case against Bill O'Reilly.
Up Next
Oil drop stymies Dow's march to 20,000
- Video duration
- 01:26
- Video duration
- 01:26
Oil drop stymies Dow's march to 20,000
Oil drop stymies Dow's march to 20,000
The Nasdaq hits a new record high and shares of veterinary hospital operator VCA soar after Mars said it was buying the company.
Up Next
Marissa Mayer to leave Yahoo board
- Video duration
- 02:13
- Video duration
- 02:13
Marissa Mayer to leave Yahoo board
Marissa Mayer to leave Yahoo board
Bloomberg discusses what Yahoo CEO Marissa Mayer's resignation from the board will mean for the company
Up Next
James Packer returns to Crown board
- Video duration
- 02:00
- Video duration
- 02:00
James Packer returns to Crown board
James Packer returns to Crown board
A management shake-up at Crown Resorts, after a horror run in 2016, could leave investors a little confused.
Up Next
NAB admits security breach
- Video duration
- 00:00
- Video duration
- 00:00
NAB admits security breach
NAB admits security breach
The bank says human error was to blame when it sent details of 65,000 customers to the wrong email address in December.
Up Next
Apple iPhone turns ten
- Video duration
- 00:56
- Video duration
- 00:56
Apple iPhone turns ten
Apple iPhone turns ten
The device that redefined the mobile phone and helped make Apple the most valuable company in the world has marked its 10th anniversary.
Another important US earnings season
With US equity markets close to all-time highs, investors will be looking for a strong earnings season to justify rich valuations. It should also provide investors with a chance to assess how CEOs view many of the macro themes playing out, such as Trumps proposed fiscal stimulus. (This video was produced in commercial partnership between Fairfax Media and IG Markets)
2. Pharma cops a spray: Trump openly criticised the pharmaceutical and bio tech sector sending the healthcare index down 2.6% in early trade putting a lid on recent gains in the Nasdaq. Traders were expecting the President elect would be good for the industry with many stocks making strong gains since November. The coming reporting season only days away will provide many companies an opportunity to state not only there trading results but also commentary around future business.
At risk is the Pacific trade pact involving Australia and further risk of a trade war around protectionism. Healthcare in Australia has been one of the better performing sectors up 2.6% in new year trade.
Companies like Mayne Pharma with a portfolio of generic drugs recently purchased from Teva/Allergran is one Australian company with a strong US exposure that will be closely watched in the coming months.
3. Currencies: The USD index fell back to 101.55 Â with this markets saw other currencies move higher with the AUDUSD making a strong move to .7450, this will provide some pressure to the Australian session today. USDJPY traded in the 115 range and may bring some pressure onto the Nikkei in today's trade.
4. Bellamy's: Closely monitored today will be BAL Bellamy's after surprising the market yesterday coming out of suspension 2 days early and falling a further $2.00 to open at $3.84 a dramatic fall from grace as the stock had traded over $12 mid 2016.Â
5. Miners to shine: BHP's ADR is 1.1% matching at $26.31, higher on a stronger iron ore price.
6. ASX: For our market the SPI futures show a 10 point gain. We are expecting a strong open in resources with across the board gains in metals and mainly flat overnight Oil settlement at 52.75 a barrel.
7. Gold: Gold shines again in Australian resources after making good gains overnight, the Australian dollar Gold price remains above $1600 oz and with the USD gold making highs of $1198.36 an ounce the gold resource sector looks well supported for today's trade.
8. Market highlights:Â
SPI futures up 16 points or 0.3% to 5745
AUD +1% to 74.38Â US cents (overnight high 74.72)
On Wall St, Dow +0.4%, S&P; 500 +0.2%, Nasdaq +0.1%
In New York, BHP +0.9%, Rio +1.8%
In Europe, Stoxx 50 flat, FTSE +0.2%, CAC flat, DAX +0.5%
Spot gold flat at $US1188.88 an ounce
Brent crude +3.2% to $US55.37 a barrel
Iron ore +1.2% to $US80.41 a tonne
LME aluminium +0.5% to $US1758 a tonne
LME copper -0.8% to $US5714 a tonne
10-year bond yield: US 2.37%; Germany 0.32%; Australia 2.73%
 This column was produced in commercial partnership
  between Fairfax Media and IG