The Aussie market is poised for another sharp drop on the open today, following sell-offs on international markets overnight after Chinese stocks fell more than eight per cent, sparking concern about global economic growth.
The September SPI futures contract is down 40 points, at 5491.
In local economic news today, the ANZ-Roy Morgan weekly consumer confidence survey is due out.
No major equities news is expected, however, Fairfax Media chief executive Greg Hywood is slated to speak at an AmCham lunch in Sydney while Westpac SA general manager Lester Wynne-Jones is scheduled to speak at an Australia-Israel Chamber of Commerce lunch in Adelaide.
SPI down 40 points at 5489
AUD at 72.73 US cents
Dow Jones -0.73%, S&P500 -0.58%, Nasdaq -0.96%
FTSE100 -1.13%, CAC -2.57%, DAX -2.56%
Spot gold down 0.6% at $US1092.28 an ounce
Brent oil down 3.1% at $US52.90 per barrel
Iron ore up 1.8% at $US52.35 per tonne
What’s on today:
ANZ-Roy Morgan weekly consumer confidence survey
Fairfax Media chief executive Greg Hywood speaking at American Chamber of Commerce in Australia lunch
Westpac SA general manager Lester Wynne-Jones speaking at Australia-Israel Chamber of Commerce lunch