US markets recovered their composure in the first trading session for the week. The Nasdaq rose 2.2%, the SP500 2.02% and the VIX index dropped 12%. Bitcoin stabilised around US$115,650. US bond markets were closed for Columbus Day. The technology sector performed the strongest, with notable rises in TSLA (+5.4%) and AVGO (+9.9%). The major US banks are also reporting this week and should provide insight into Main Street America.

ASX set to open higher. SPI futures up 27 points. 

Both copper (+3.7% in London) and Brent oil (+1%) bounced after taking a hit last week. Iron ore continues to show resilience even in the face of the escalated tensions over global trade. That helps the outlook for RIO, which released its latest quarterly production update this morning. Watch for any market reaction today. There should be no surprises.

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