The SPI futures are pointing to a flat start later this morning despite US stocks performing strongly overnight.
U.S. markets lifted more than half a per cent, as construction spending data boosted confidence in the economy.
The December SPI futures contract is up three points, at 5293.
Total US construction spending rose to an annual rate of $US971.0 billion ($A1.1 trillion), 1.1 per cent above the revised September figure.
The increase was almost double the consensus prediction from analysts.
In local economic news today, the Australian Bureau of Statistics releases national accounts data for the September quarter, including gross domestic product, while the Australian Industry Group’s November Australian Performance of Services Index (PSI) is due out.
ASIC chairman Greg Medcraft is slated to address to the National Press Club while Treasury Secretary Martin Parkinson attends an Australian British Chamber of Commerce lunch to discuss the case for tax reform.
In equities news, TPG has its annual general meeting.
– SPI futures up 3 pts at 5293
– AUD at 84.46 US cents, 100.69 Japanese yen, 68.20 Euro cents and 54.00 British pence
– Late on Wall St, S&P 500 +0.6%, Dow +0.7%, Nasdaq +0.6%
– In Europe, Euro Stoxx 50 +0.2%, FTSE +1.3%, CAC +0.3%, DAX -0.3%
– Spot gold down 1.2% to $US1197.38 an ounce
– Brent oil falls 2.2% to $US71.00 per barrel
– Iron ore slips 0.6% to $US70.67 per metric tonne
What’s on today:
Australia GDP economic growth, AiGroup services index, UBS is holding an Australian iron ore and coal seminar in Sydney; US Beige Book, ADP national employment; UK services PMI; Canada rates statement.
Stocks to watch:
UBS is holding an Australian iron ore and coal seminar in Sydney. Oroton and TPG are hosting AGMs. CSL is holding an investor day.
Foster Stockbroking maintains a “buy” rating on Liquefied Natural Gas Ltd and a 12-month price target at $5.80 a share.
RBC Capital markets has maintained an “outperform” on Fortescue Metals Group and a price target of $4.50 a share.
The following stocks will trade ex dividend today: BT Investment Management and Fisher & Paykel.