The market is up 49. The SFE Futures were up 58 this morning.

Dow Jones up 217 (+1.69%) and above 13,000 again. Dow up 255 at best. Nasdaq up 2.0%, S&P 500 up 1.90%. Good US jobs data drove markets. Slightly better than expected ISM number helped. Bonds fell. European market up as Spanish bond yields fell.

US jobs data saw non-farm payrolls up 163,000 versus expectations for a rise of 100,000. Despite that the unemployment rate lifted from 8.2% to 8.3%. Jobs would have to grow at around 200,000 per month to drop the unemployment rate. Private sector Payrolls lifted 172,000, Professional and Business services leading the job gains. The Total Labour force reduced by 150,000 and the Participation rate reduced to 63.7%.

Spanish PM Rajoy for the first time said he would consider asking the euro region’s bailout funds to buy Spanish debt if it were in the best interests of the country. Metal all up — Copper up 1.62%, Nickel up 2.39%, Zinc up 1.54%, Aluminium up 1.19%. Copper stockpiles monitored by the LME, down 34% over 2012 to date, fell for a ninth session in 10. Oil up $4.27 to $91.40 as the US National Hurricane Centre warned that Tropical Storm Ernesto could grow into a hurricane over the weekend.

  • DIARY THIS WEEK — Chinese industrial production, CPI, PPI and retail sales on Thursday. RBA Meeting tomorrow — rates unlikely to be cut again. Australian jobs numbers are on Thursday. Expecting a gain of 12,000 jobs and unemployment tot stay at 5.2%. RBA Monetary policy statement on Friday. Results — see full results calendar for the month below — Main ones include RIO, Telstra, News Corp.
  • ANZ Job Ads are down for the fourth consecutive month — down 0.8% in July and down 9.1% YonY.
  • The TD Securities Melbourne Institute inflation gauge rose +0.2% in July after a -0.2% fall in the June. For the 12 months to June the inflation gauge was +1.5%, which is the lowest annual rate in almost 3 years.
  • FMG have secured $US1.5bn in new funding for the expansion of their flagship iron ore operation in the Pilbara. CFO Stephen Pearce said that “the facility provides a short term finding solution to support the company’s expansion to 155mtpa”. FMG is up 2.75% to 429.5c.
  • Integra Mining (IGR) has agreed to a $426m takeover from Silver Lake Resource (SLR). IGR shareholders will receive 1 SLR share for every 6.28 IGR share. IGR is up 23% and SLR is down 27.5%.
  • Hastings Diversified (HDF) have announced that they will allow APA Group (APA) to look over their books. APA have indicated that they may increase the bid if they are able to complete a satisfactory due diligence on HDF. HDF is flat and APA is down 0.62% to 483c.
  • Paperlinx (PPX) has bought Canterbury Publishing in New Zealand.  PPX is up 1.61% to 6.3c.

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