The Aussie market market looks set to open flat this morning following another lacklustre performance on Wall Street overnight after the release of disappointing economic data.
The December SPI futures contract is down just two points, at 5405.
The US Labor Department said weekly applications rose 21,000 to a seasonally-adjusted 313,000, the highest level since the first week of September.
Consumer spending rose just 0.2 per cent in October, compared with a revised 0.2 per cent decline in September.
US new homes sales advanced 0.7 per cent in October to a seasonally-adjusted annual rate of 458,000.
In local economic news today, the Australian Bureau of Statistics releases new capital expenditure and expected expenditure for the September quarter and the HIA new home sales figures for October are due out, as is the Commonwealth Bank business sales indicator for the same month.
The FeTech magnetite and iron ore conference is on in Perth.
In equities news, Woolworths, Bank of Queensland, SEEK, Beach Energy and Mayne Pharma Group have annual general meetings.
– SPI futures down 2 pts at 5405
– AUD at 85.44 US cents, 100.66 Japanese yen, 68.29 Euro cents and 54.09 British pence
– On Wall St in late trade, S&P 500 +0.1%, Dow flat, Nasdaq +0.5%
– In Europe, Euro Stoxx 50 flat, FTSE flat, CAC -0.2%, DAX +0.6%
– Spot gold 0.2% to $US1198.54 an ounce
– Iron ore slips 1.6% to $US68.49 per dry ton
– Brent oil loses 0.9% to $US77.66 per barrel
What’s on today:
Australia HIA new home sales, CBA business sales indicator for October, business investment September, ABS Private Capital Expenditures report; China industrial profits; US Thanksgiving holiday; Euro zone economic, industrial, consumer confidence; Germany unemployment data; Austria OPEC meeting.
Stocks to watch:
Beach Energy, Woolworths, Bank of Queensland, SEEK, Mayne Pharma Group AGMs.
Discovery Communications and bid partner Foxtel are unlikely to pay a big premium for takeover target Ten Network Holdings, according to the Street Talk column in the Australian Financial Review.
Citi Research kept its “neutral” recommendation unchanged on Orica Limited but dropped its price target by 40¢ to $20.10.
Morningstar has a “hold” on Coca-Cola Amatil from “reduce” previously with a “medium” fair value uncertainty rating and a fair value price of $8.50 a share.