The Australian market looks set to open lower after Wall Street steadied to close flat following data showing that US manufacturing had declined.
The SPI is trading down 8 points, at 5397.
The Institute for Supply Management said its index of national factory activity fell to 49.4 in August, below expectations of economists polled by Reuters for a dip to just 52.0. It was the first contraction in manufacturing since February. But data on the labour market pointed to a pick-up in third-quarter economic growth.
Locally, no major economic or equities news is expected.
- The SPI is trading down 8 points, at 5397
- AUD +0.5% to 75.51 US cents
- On Wall St, Dow +0.1, S&P 500 flat, Nasdaq +0.3%
- In Europe, Stoxx 50 -0.2%, FTSE -0.5%, CAC flat, DAX -0.6%
- Spot gold +0.4% to $US1313.91 an ounce
- Brent crude -2.9% to $US45.51 a barrel
What’s on today
No major economic or equities news is expected locally today.