The Aussie market is poised for a flat to slightly weaker start to the final trading day of the week, following a mixed performance on Wall Street overnight.
The September SPI futures contract is down 11 points, at 5306.
The Dow Jones Index in New York added just five points, while the broader S&P 500 gave up 2.7 points as anxiety from China’s currency devaluations that rattled markets earlier in the week dissipated.
In local news today, Reserve Bank assistant governor for economics Christopher Kent gives a speech on recent labour market developments at an Economic Society of Australia lunch in Brisbane.
In equities news, Automotive Holdings, Australia’s largest car and truck retailer, releases its full year results and building products company James Hardie’s first quarter results are also due out.
– SPI futures down 11 pts at 5306
– AUD at 73.64 US cents, 91.62 Japanese yen, 66.06 Euro cents and 47.17 British pence
– On Wall St, S&P 500 -0.1%, Dow flat, Nasdaq -0.2%
– In Europe, Stoxx 50 +0.9%, FTSE flat, CAC +1.3%, DAX -+0.8%
– Spot gold down 0.8% to $US1115.03 an ounce
– Iron ore adds 1.3% to $US57.02 per tonne
– Brent crude loses 1% to $US49.15 per barrel
What’s on today:
Australia Christopher Kent, Reserve Bank of Australia assistant governor speech in Brisbane (lunch)
Stocks in focus:
Results from James Hardie, Automotive Holdings