Australian market poised to open lower later this morning, following a late-session selloff on Wall Street overnight.
The December SPI futures contract is down 34 points, at 5204.
U.S. stocks failed to defend modest gains, closing down for a second consecutive session amid allegations about improprieties at Valeant Pharmaceuticals weighed on the S&P 500’s health-care sector and pressured the broader market.
In local economic news today, RBA assistant governor (Financial System) Malcolm Edey is slated to speak at the International Swaps and Derivatives Association’s (ISDA) annual conference in Sydney.
In equities space, the Australian Competition and Consumer Commission is expected to release its decision on the Foxtel and Ten Network deal.
– SPI up 34 points at 5204
– AUD at 72.08 US cents
– On Wall Street Dow Jones +0.22%, S&P500 -0.08%, Nasdaq -0.26%
– In Europe, FTSE100 +0.05%, CAC +0.46%, DAX +0.89%
– Iron ore down at $US52.79 a tonne
What’s on today:
Australian jobs data, business confidence, RBA Malcom Edey speech
ECB policy meeting: Euro area consumer confidence, UK retail sales, French manufacturing confidence.
US sales of previously owned homes.US initial jobless, house price index, leading economic indicators, Kansas City Fed manufacturing activity