The Aussie market is poised to open significantly lower later this morning following declines in Wall Street on Friday night.
The SPI futures contract is down 40 points at 5,021.
On Friday night, US stocks closed lower for the second straight session, following a decline in crude oil prices and a negative global response to the Federal Reserve’s interest hike.
In Australia, the market on Friday finished slightly higher as strength in banking stocks helped pare back earlier losses.
No major local economic or equities news expected today.
- ASX will close early on Thursday and be closed on Friday
- SPI futures down 40 pts at 5021 on Monday morning
- AUD at 71.75 US cents on Monday morning
- On Wall St, S&P 500 -1.8%, Dow -2.1%, Nasdaq -1.6%
- In Europe, Stoxx 50 -1.4%, FTSE -0.8%, CAC 40 -1.1%, DAX -1.2%
- In London, BHP +2.5%, Rio +0.2%
- Spot gold gained $US14.75 or 1.4% to $US1065.85 an ounce at 4.09pm in New York on Friday
- Brent crude was 37 US cents or 1% lower at $US36.69 a barrel at 3.44pm in New York on Friday
- Comex-traded copper surged 3.2 per cent on Friday
What’s on today
We’re heading into two relatively quiet weeks in terms of economic data and corporate reports. NZ net immigration data; Euro consumer confidence.
Stocks in focus
BHP Billiton: Goldman Sachs cuts London traded target price to 750p from 925p; neutral