Electrical parts and communications company Legend Corporation says it is expecting post-tax profit of $7.3 million this financial year compared to $6 million in 2017-18. Earnings before interest tax depreciation and amortisation are expected to be between $15.4 million and $15.7 million, about $3 million more than last year.

"Legend continues to enjoy solid growth in our organic business. PCWI and Gas & Plumbing performance is particularly pleasing. Unfortunately, the Commsforce business, a unit of the Celemetrix group, has made very little contribution to earnings due to lower than expected sales and deferrals of telco purchase programs," chief executive Brad Dowe tells the market this morning.

Mining services company Emeco has released a trading update forecasting operating earings before interest tax depreciation and amortisation of between $211 million and $213 million, which would be 40 per cent higher than 2017-18. This is right in line with analyst expectations. Shares last traded at $1.65.

"Market conditions continue to be positive and outlook for 2019-20 remains strong, with total material movement continuing to increase and equipment supply remaining tight," the company tells the market.

The company is focused on deleveraging to get debt down to 1 x earnings by 2021.

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ASX futures up 12 points or 0.2% to 6565 near 7.30am AEST

AUD flat at 69.62 US cents (Overnight low 69.47)
On Wall St: Dow -0.1% S&P 500 flat Nasdaq flat
In New York: BHP +3.2% Rio +2.7% Atlassian -3.1%
In Europe: Stoxx 50 +0.4% FTSE +0.3% CAC +0.5% DAX +0.9%
Spot gold -0.1% to $US1327.14 an ounce at 3.06pm New York
Brent crude -0.3% to $US62.12 a barrel
US oil -0.2% to $US53.13 a barrel
Iron ore +5% to $US106.61 a tonne
Dalian iron ore +3.2% to 768.50 yuan
LME aluminium +0.2% to $US1778 a tonne
LME copper up $US2 to $US5876 a tonne
2-year yield: US 1.93% Australia 1.06%
5-year yield: US 1.92% Australia 1.11%
10-year yield: US 2.14% Australia 1.45% Germany -0.23%
10-year US/Australia yield gap near 7.30am AEST: 69 basis points

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Markets took a breather overnight but the ASX is expected to open in positive territory this morning. Let's fall back on the cliché that last night's trade for Wall Street was a touch of profit-taking. After the several days of "relief-rallying" on Wall Street, and in global markets, price action suggests an element of moderation is occurring in risk assets.

Mostly a level of psychological import, the 2900-mark proved a challenge to break for the S&P500, with traders fading that resistance level, resulting in what was a more-or-less flat day for US equities. It caps off a 24 hours that was otherwise very bullish for global investors: from Asia to Europe, it was a sea of green for global stock indices.

For the mixed-lead handed to us by overseas markets, SPI Futures are indicating that the ASX200 should add 14 points at this morning's open. The ASX200 had a ripping day yesterday, rallying 1.59 per cent to a new 11-year high.

Breadth was also solid at 82 per cent, volume was well above average, and advances in high, multiple growth stocks in the healthcare sector lead the charge. It was simply a matter of playing catch-up for the Australian stock-market yesterday, which was effectively pricing in two-days of bullish news – with the question today whether the ASX will fall in-line with global markets' general moderation in sentiment.

Good morning and welcome to today's Markets Live blog.

Your editor today is Lucy Battersby (lbattersby@theage.com.au).

This blog is not intended as financial advice.