The Australian market looks set to open lower after Wall Street ended last week with a lacklustre performance following tepid economic data.
The SPI is down 10 points to 5475.
Economic data showed that US retail sales growth was unexpectedly flat in July as people cut back on buying clothes and other goods, while the producer price index fell 0.4 per cent in July, the biggest drop in nearly a year.
Locally, no major economic news is expected today.
In equities news, National Australia Bank is slated to release its third quarter results, while Newcrest Mining, Aurizon, Ansell and JB Hi-Fi are among the companies due to post full-year results.
- The SPI is down 10 points to 5475.
- AUD -0.6% to 76.46 US cents on Saturday morning
- On Wall St, Dow -0.2%, S&P 500 -0.1%, Nasdaq +0.1%
- In New York, BHP -1.8%, Rio -4.3%
- In Europe, Stoxx 50 -0.1%, FTSE flat, CAC -0.1%, DAX -0.3%
- Spot gold -0.2% to $US1335.97 an ounce
- Brent crude +2% to $US46.97 a barrel
What’s on today
NZ Performance of Services Index is released. NAB, Ansell, Newcrest Mining, GPT Group, Aurizon, Orora, JB Hi-Fi are reporting today.