The Aussie market is poised to open lower following a sharp selloff on Wall Street overnight amidst persistent fears of a global slowdown.
The SPI is now down 60 points, after being down more than 100. The Dow Jones has recovered from being down 400 points, to presently being down 180.
In local economic news today, the ANZ-Roy Morgan weekly consumer confidence survey, the National Australia Bank’s monthly business survey for January and the Housing Industry Association’s new home sales figures for December are all due out.
No major equities news is expected.
- SPI futures down 60 points, 4860
- AUD up 0.4% to 70.83 US cents, 81.80 Japanese yen, 63.25 Euro cents and 49.08 British pence
- On Wall St, S&P 500 -2.5%, Dow -1.8%, Nasdaq -2.7%
- In Europe, Stoxx 50 -3.3%, FTSE -2.7%, CAC -3.2%, DAX -3.3%
- In London, BHP -0.24%, Rio +1.24%
- Spot gold up 2.1% to $US1195.25 at 7am in Sydney
- Brent crude down 2.2% to $US32.86 at 7am in Sydney
- Iron ore adds 0.5% to $US45.73 per tonne
What’s on today
Australia NAB business survey. German Dec trade balance, UK Dec trade balance. US small business optimism index, US job openings, US wholesale inventories. Earnings: Coca-Cola, CVS Health, Viacom, Walt Disney, Agrium, Sanofi, UniCredit, Enel. International Petroleum Week begins in London. IEA monthly oil report.