Good morning, Chris Conway your Head of Research here with your First Look.
The Aussie market is poised to open slightly lower later this morning, after Wall Street was mainly weaker overnight despite the Dow Jones hitting a record high for the third straight session.
The SPI is down eight points, at 5488.
Expectations that markets would benefit from US President-elect Donald Trump’s policies have helped boost Wall Street shares.
New orders for US manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment, the latest indication of an acceleration in economic growth early in the fourth quarter.
The Dow hit another record high, but the S&P 500 and Nasdaq slipped after touching record intraday and closing highs over the past two days.
In local economic news today, the Australian Bureau of Statistics releases detailed October labour force figures and September quarter managed funds figures.
In equities news, Woolworths, South32, SEEK, Qube Holdings, Cabcharge and Evolution Mining hold their annual general meetings.
Meanwhile, the East Coast Gas and Energy Summit is on in Adelaide.
- SPI down eight points at 5488
- AUD at US73.90¢
- Dow Jones +0.2%; S&P500 -0.1%; Nasdaq -0.4%
- FTSE100 flat, CAC -0.4%, DAX -0.5%
- Spot gold -1.8% at $US1190.85 an ounce
- Brent oil flat at $US49.10 a barrel
- Iron ore +1.3% at $US75.87 a tonne