The Aussie market is set to open higher later this morning, despite Wall Street losing ground on Friday night after US stocks initially lifted on good jobs figures.
The March SPI futures contract is up 12 points points, at 5764.
The US Labor Department said the US economy added 257,000 jobs in January, better than the 235,000 projected by analysts.
The report also included large upward revisions to jobs growth in November and December and said hourly wage growth gained 0.5 per cent, a big improvement after a December drop.
In local economic news today, Reserve Bank of Australia governor Glenn Stevens is scheduled to give a speech at the RMB Clearing Bank launch ceremony in Sydney.
Meanwhile, the ANZ job advertisements series for January is due out.
In equities news, Ansell is expected to post half year results.
- SPI futures up 12 pts at 5764
- AUD at 77.69 US cents, 92.88 Japanese yen, 69.15 Euro cents and 50.89 British pence
- On Wall St, S&P 500 -0.3%, Dow -0.3%, Nasdaq -0.4%
- In Europe, Stoxx 50 -0.3%, FTSE -0.2%, CAC -0.3%, DAX -0.5%
- Spot gold down $US30.78 or 2.4% to $US1234.04 an ounce
- Brent oil up $US1.66 or 2.9% to $US58.23 per barrel
- Iron ore adds 1.4% to $US62.49 per metric tonne
What’s on today:
Australia ANZ job advertisements, Reserve Bank of Australia governor Glenn Stevens speech at RMB clearing lunch.
Stocks to watch:
APN News & Media results
Credit Suisse has raised Echo Entertainment to “outperform” and increased its price target to $4.65 a share.
RBC Capital Markets has an “outperform” on Sino Gas and Energy with a price target of 30 cents.