The Aussie market is poised to open higher later this morning and continue its remarkable winning streak, following a strong lead from Wall Street on the back of rebounding oil prices.
The March SPI futures contract is up 36 points, at 5791.
In local economic news today, the Reserve Bank of Australia is set to release its quarterly Statement on Monetary Policy.
In equities news, News Corp is due to release quarterly results while ferry operator SeaLink is set to reveal its half year results.
- SPI up 36 points at 5791
- AUD at 78.04 US cents
- Dow Jones +0.96%, S&P500 +0.86%, Nasdaq +0.77%
- FTSE100 +0.09%, CAC +0.15%, DAX -0.05%
- Gold down 0.8% at $US1260.40 an ounce
- Brent oil up 5.5% at $US57.16 per barrel
- Iron ore down 94 US cents at $US61.64 a tonne
In late news:
News Corp reported a 4% fall in revenue for Q2 after a drop in advertising and subscription revenue at the news and information business ate into revenue growth at other businesses. Net income dropped $150m from a year earlier. Despite this the results were better than expected and the shares were 3.8% higher in late trading.
New York Times Co. also reported saying Q4 earnings fell 63% with declines in both print and digital advertising revenue. Shares were up 3.3%.
Twitter has announced Q4 revenue that has beat estimates and has forecast the number of users will increase, as the company tries to quell worries about just how much of a user base it can attract. The stock was up 9.8% in late trading.