Here's my summary of the key news overnight in 90 seconds at 9 am, including news the Dow Jones Industrial Average rose to its highest level ever, erasing losses from the financial crisis after a four-year rally.
It was fueled by the fastest profit growth since the 1990s and monetary stimulus from the US central bank.
European stocks also rose to a 4½ year high.
In the US, HSBC has had its share of run-ins with regulators there. Now it looks like it is starting to sell out of some of its US businesses, with a US$3 billion deal to quit some consumer lending.
In China, the outgoing premier has announced their current growth target remains 7.5% pa for this year but also warned it would be hard to achieve.
The euro zone appears to be heading for a fourth consecutive quarter of economic contraction, as surveys of purchasing managers indicate business activity shrank at a faster pace in February.
In Australia, the RBA kept its benchmark rates unchanged yesterday. Dairy farmers there are enduring a tough time: Milk price retail competition, their high dollar and fast rising costs have contributed to a collapse in the average cash income of dairy farms, down from A$143,200 in 2011-12 to an estimated A$95,000 this financial year.
By comparison, net cash income on a Kiwi dairy farm is more than NZ$500,000. We don't know how lucky we are.
And the latest Fonterra dairy acution has prices up a stunning 10.4% from the previous auction. Whole milk power was up 18%. This has pumped up our currency significantly.
Staying with the ag theme for a moment, world rice production is at record levels with farmers growing so much of the grain, it is depressing prices.
Oil prices are unchanged as is gold, although copper and aluminium rose overnight.
The kiwi dollar starts today slightly higher at 82.9 USc, 81.1 AUc, and the TWI is at 76.2.
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