The Australian market looks set to open lower after Wall Street fell, despite upbeat retail data, as a decline in oil prices added to pressure from consumer companies with gloomy quarterly reports from Nordstrom and JC Penney.
The SPI is down 32 points, trading at 5299.
Locally, no major economic news is expected.
In equities news, Elders is expected to release half year results.
- The SPI is down 32 points, trading at 5299.
- AUD at 72.52 US cents, 78.81 Japanese yen, 64.15 Euro cents and 50.55 British pence
- On Wall St, Dow -1%, S&P -0.9%, Nasdaq -0.4%
- On the Dow, Wal-Mart -2.9%, Caterpillar -2.3%, DuPont -2.1%
- In Europe, Stoxx 50 +0.7%, FTSE +0.6%, CAC +0.6%, DAX +0.9%
- In London, BHP+1.9%, Rio +1%
- Spot gold +0.8% to $US1273.45 ounce on Friday in New York
- Brent crude -0.5% to $US47.85 barrel on Friday in New York
- Iron ore -0.9% to $US54.54 tonne on Friday
What’s on today
Local data: NZ PSI
Local earnings: Elders
Bank of Japan current account; US Empire State manufacturing (May), US NAHB homebuilder sentiment (May), US Treasury net international capital flows (March); Bank of Canada biannual economic review.
Fed speaker: Neel Kashkari.
Overseas earnings: Amaya, Kirkland Lake Gold, British Land, ICAP.