The Aussie market is poised to open lower later this morning following steep losses on Wall Street overnight as worries out of China continue to weigh heavily on sentiment.
The March SPI futures contract is down 53 points at 4,905.
U.S and European stocks have again lost ground this week on the back of negativity about the Chinese economy and falls in oil prices.
In local news today, the Australian Bureau of Statistics will release retail spending figures for November and the Ai Group’s Performance of Construction Index for December is due out.
- SPI futures down 53 pts to 4905
- AUD at 69.98 US cents, ¥82.365, €64.19 and £47.94
- On Wall St, at about 3pm, Dow -2.3%, S&P 500 -1.96%, Nasdaq -2.74%
- In Europe, Stoxx 50 -1.74%, FTSE -1.96%, CAC -1.72%, DAX -2.29%
- The DAX closed below 10,000 for the first time since October
- In London, BHP -5.03%, Rio -3.36%, Anglo -11%, Glencore -8.32%
- Spot gold up $US15.56 or 1.4% to $US1109.23/oz at 2.52pm New York
- Brent crude down 49 US cents or 1.4% to $US33.74/bbl at 2.28pm New York
- Iron ore slipped 0.6% to $US42.65 per tonne
What’s on today
Australian December construction PCI, November retail sales; US December labour force survey.