The Australian market looks set to open lower later this morning, following losses on Wall Street overnight where the Dow Jones has declined more than one per cent.
The March SPI futures contract is down 20 points, at 5283.
US stocks, however, had pared early losses after the Federal Reserve said the US economy had continued to expand.
In local economic news today, the Australian Bureau of Statistics will release labour force figures for December.
In equities news, Djerriwarrh Investments is expected to release interim financial results.
- SPI futures down 20 pts at 5283
- AUD at 81.48 US cents, 95.50 Japanese yen, 69.10 Euro cents and 53.47 British pence
- In late trade, S&P 500 -0.9%, Dow -1.3%, Nasdaq -0.7%
- In Europe, Stoxx 50 -1.4%, FTSE -2.4%, CAC -1.6%, DAX -1.3%
- In London, BHP fell 5.3%, Rio fell 4%
- Spot gold up $US1.49 or 0.1% to $US1232.13 an ounce
- Brent oil up $US1.14 or 2.35% to $US47.73 per barrel
• Iron ore slips 0.6% to $US68.30
What’s on today:
Australia: December employment data,
Eurozone: November trade data,
US: Empire State January manufacturing data, producer prices, initial jobless claims and Philly Fed survey.
Stocks to watch:
Shares of BHP Billiton and Rio Tinto fell in London, caught in copper’s downdraft.
Advisers for the potential $3 billion MYOB float will start introducing the accounting software provider to fund managers next week, according to Street Talk in the Australian Financial Review.
One of BHP’s biggest shareholders says that the mining giant has a responsibility to stick to its $US6.5 billion progressive dividend policy.
Telstra shares have continued their relentless march higher in 2015.
Citi Research has downgraded AGL Energy to “neutral” and cut its target price by 4 per cent to $14.62.
Morningstar has a “buy” recommendation on IProperty Group and a $2.65 target price.