Good Morning, Thomas King your Senior Research Analyst here with your First Look.
The Australian market looks set to open slightly lower after Wall Street is little changed as investors digest the latest in a spate of large-scale corporate mergers and revelations ahead of the US presidential election.
The SPI is down 8 points, trading at 5282.
Stocks in the US were jolted on Friday by disclosure that the FBI was investigating more emails as part of an investigation into Hillary Clinton’s use of a private email system, causing fresh uncertainty over the Democratic candidate’s presumed lead in the presidential election over Republican rival Donald Trump.
Locally, in economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and makes its interest rate decision.
The RBA also releases its index of commodity prices for October. The Australian Industry Group performance of manufacturing (PMI) index and the RP Data Core Logic Home Value Index, both for October, are due out as is the Dun and Bradstreet business expectations survey.
No major equities news is expected.
– The SPI is down 8 points, trading at 5282.
– AUD +0.2% to 76.10 US cents
– On Wall St, Dow -0.1%, S&P500 flat, Nasdaq flat
– In New York, Rio +0.9%, BHP +0.4%
– In Europe, Stoxx 50 -0.8%, FTSE -0.6%, CAC 0.9%, DAX -0.3%
– Spot gold -0.3% to $US1271.73 an ounce
– Brent crude -3.2% to $US4810 a barrel
– Iron ore +0.7% to $US64.38 a tonne
– LME aluminium +0.7% to $US1734 a tonne
What’s on today
RBA decision, Melbourne Cup