• The ASX 200 up 63 points to 7320 (0.9%) rallying hard into the weekend on better news from China, higher commodity prices, US debt ceiling news and a breakout of optimism ahead of the US jobs data. Resource stocks leading the charge higher as punters focused on BHP’s oil and coal exposure sending the stock up 3.0%. FMG rose 2.4% as China returned from Golden Week and the PBoC withdrew stimulus. RIO up 4.0% and BSL up 1.7%. Both SFR and OZL had strong bounces and gold miners were slightly higher. 
• Oil and gas stocks back in demand, STO up 1.5% and WPL rising 1.4%. Industrials firmed with WOW up 0.6% after resolving an underpayment issue, WES rose 1.3% and SEK and REA rallied well. Tech stocks also in the green, APT up 2.0% following the Square price higher. The All-Tech Index rose 1.42%. 
• The Big Bank Basket up to $185.22 (0.8%) with MFG bouncing on broker comments and insurers strong on bond yield rises. 
• In corporate news, EML’s attempt to sneak in bad news at the close yesterday failed and the stock dropped 14.6%. ERA have announced the cost of going to rehab, rose, rose, rose and the stock fell then rallied to close unchanged. In economic news, the RBA issued the financial stability report, worried about housing lending and cyber-attacks. Aren’t we all? 10-year yields soar to 1.64%.
• Jobs number in US tonight. European markets opening flat.

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