The Aussie market market looks set to open lower later this morning after Wall Street finished lower on Friday night as petroleum-linked equities weighed following poor earnings from ExxonMobil and Chevron and a drop in oil prices.
The September SPI futures contract is down 12 points, at 5639.
In local economic news today, the ANZ’s job advertisements series and the TD Securities-Melbourne Institute inflation gauge, both for July, are due out.
The Australian Industry Group performance of manufacturing (PMI) index, the RP Data Core Logic Home Value Index and the HIA New home sales for June, are also due out.
Meanwhile, CAPA Corporate Travel & Airport Innovation Summit in on in Sydney.
In equities news, Argo Investments is expected to post full year results while Talga Resources has its annual general meeting in Perth.
– SPI futures down 12pts to 5639 on Saturday morning
– AUD at 73.04 US cents, 90.61 Japanese yen, 66.54 Euro cents and 46.73 British pence
– On Wall St, S&P 500 -0.2%, Dow -0.3%, Nasdaq flat
– In Europe, Stoxx 50 +0.5%, FTSE +0.4%, CAC +0.7%, DAX 0.5%
– Iron ore tumbled 4% to $US53.41 per tonne on Friday night
– Spot gold up 0.7% to $US1095.80 an ounce
– Brent crude down 2.1% to $US52.21 a barrel
What’s on today:
Australia CoreLogic RP Data home prices, ANZ job advertisements, TD Securities inflation gauge, Diggers and Dealers conference is held for three days in Kalgoorlie, Australia, with speakers including the head of exploration for Rio Tinto; Caixin China PMI (July final); Euro-area manufacturing PMI (July final); UK manufacturing PMI (July); US ISM manufacturing index, construction spending