The Aussie market is poised to open higher later this morning following solid gains on Wall Street Friday night and a decent US jobs report.
The December SPI futures contract is up 31 points at 5,186.
US non-farm payrolls increased 211,000 in November, the US Labor Department said, while September and October data were revised to show 35,000 more jobs than previously reported.
The report, which also shows the unemployment rate held steady at five per cent, will most likely pave the way for the Federal Reserve to raise rates this month for the first time in nearly a decade.
In local economic news today, the Ai Group/Housing Industry Association performance of construction index (PCI) and the ANZ job advertisements series, both for November, are due out.
No major equities news is expected.
- SPI futures up 31pts at 5186 on Monday morning
- AUD at 73.40 US cents on Monday morning
- On Wall St, S&P 500 +2.1%, Dow +2.1%, Nasdaq +2.1%
- In Europe, Stoxx 50 -0.4%, FTSE -0.6%, CAC -0.3%, DAX -0.3%
- In London, Rio -1.6%, BHP +0.04%
- Spot gold rose $US24.33 or 2.4% to $US1086.44/oz in New York on Friday
- Brent crude fell 64 US cents or 1.5% to $US43.20 a barrel in New York on Friday
What’s on today
Australia job advertisements; US labour market conditions, consumer credit
Stocks in focus
UBS has a “buy” on OZ Minerals and a price target of $4.56 a share.
Telstra shares took quite a beating on Friday, dropping as much as 2.35 per cent before closing 1.8 per cent lower at $5.41, after another senior executive resigned.