The Aussie market is poised to open flat to slightly weaker later this morning, after US equities finished weaker on Friday night, once again weighed down by company earnings.
The SPI futures are down three points, at 5228.
In local economic news today, the Reserve Bank of Australia releases April’s index of commodity prices.
The NAB Business Survey and the Australian Chamber of Commerce and Industry business expectations survey are due out, as are the TD Securities-Melbourne Institute inflation gauge and the Australian Industry Group’s performance of manufacturing index (PMI), all for April.
Meanwhile, the RP Data Core Logic home value index for April and the Housing Industry of Australia’s new home sales data for March are also slated for release.
In equities news, Westpac is slated to release half-year results, Virgin Australia is expected to give a quarterly update, while Telstra has an investor day in Melbourne.
- SPI futures down 3pts or 0.1% to 5228
- AUD -0.3% to 76.02 US cents, 80.80 Japanese yen, 66.36 Euro cents, 52.05 British pence
- On Wall St, Dow -0.3%, S&P 500 -0.5%, Nasdaq -0.6%
- In Europe, Stoxx 50 -3.1%, FTSE -1.3%, CAC -2.8%, DAX -2.7%
- In London, BHP -1.3%, Rio -1.2%
- Spot gold +2.2% to $US1294.09 ounce on Friday in New York
- Brent crude -0.02% to $US48.13 barrel on Friday in New York
- Iron ore +5.3% to $US66.24 tonne on Friday
What’s on today:
Local data: NAB’s April business survey
Local earnings: Westpac half year results
Overseas data: Euro manufacturing PMI April; US ISM April manufacturing, US Markit manufacturing PMI April final, US construction spending March
Central bank watch: ECB boss Mario Draghi in Frankfurt, San Francisco president John Williams in Los Angeles, Swiss National Bank chief Thomas Jordan in Luzern.
Earnings: Sysco, General Growth Properties, Anadarko Petroleum, AIG, Ferrari
Stocks in focus:
Banks report results starting today with Westpac; ANZ on Tuesday; NAB on Thursday; and, Macquarie Group on Friday. CBA reports on May 9.