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Good morning and thanks for your company.

Well Aussie investors are weighing up quite a lot this morning, mixed results from global markets at the weekend and also turning their attention to financial results which are out this week including the National Australia Bank (ASX:NAB), which just handed down half year results also expecting to hear from ANZ (ASX:ANZ) on Thursday, Coles (ASX:COL), Woolies (ASX:WOW) and Qantas (ASX:QAN) announcing quarterly numbers this week as well.

In the US, a busy week for them as well Google parent Alphabet reports their quarterly numbers along with Microsoft, Apple, Amazon and Facebook but for now let’s turn our attention to the Australian share market.

Earlier the futures were suggesting a rise of 1.6% at the open really as the oil continued to springboard off its lows while we also saw charges in Tech, Mining and Healthcare stocks on Wall Street.

Now touching on the oil price the WTI price has continued to shine it’s risen 23% just in two days settling at $16.94 for a very important reason, energy producers are continuing to stop drilling at a number of oil rigs in the US and Canada in particular, Canadian active rigs are now at a record low and all this seems to have settled investors concerns for the minute particularly given oil demand is down the 30% from where it was in March.

All in all, the Dow, the S&P500 and the Nasdaq all finish with a gain of over 1%.

The Nasdaq saw the most charged, thanks to Apple shares rising almost 3%.

Defensive names like Home Depot rose 5%, United Health and Pfizer rose 2% each.

Elsewhere, European investors were more cautious which is why their benchmark indices all closed lower down by about 1% each.

Meanwhile, the gold price lost a touch of its shine losing 0.6%it’s not $1,735 an ounce.

Now touching on the National Australia Bank (ASX:NAB), their half-year attributable net profit after tax fell 52% compared to the same time last year getting to $1.3 billion.

Really as cash earnings fell 51% however in some good news for NAB, its margin on interest lifted slightly 2%, meaning it’s still continuing to make money between the amount that it lends and the amount that it pays out in terms of interest.

Now it also announced that it’s dropped its half-year dividend which we were expecting however it dropped its half-year dividend by 65% to 30 cents per share, also launching a $3 billion capital raise with institutions and a $500 million share purchase plan, all to bump up the amount of capital it’s required to hold to meet regulatory requirements.

Now in terms of trading ideas another bank MyState (ASX:MYS), their shares are showing a bullish momentum uptrend and this is according to Trading Central’s data which also suggests it’s 2-6 week price target could be around $4.65.

However, remember that Bell Potter upgraded this stock on Friday with a price target of $4.50 given its showing strong earnings growth and its profits growing and on Friday, MYS closed 2.9% higher to $3.89.

I’m Jessica Amir with Bell Direct, happy trading and stay safe.

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