The Australian market looks set to open lower later this morning, following modest falls on Wall Street overnight which dipped from record highs following mixed earnings reports.

The March SPI futures contract is down 23 points, at 5898.

In local economic news today the Australian Bureau of Statistics is due to release private new capital expenditure and expected expenditure data for the December quarter, along with average weekly time earnings for the six months to November. In equities news, Sydney Airport is slated to post full year results.

Qantas, Nine Entertainment, Billabong International, Ramsay Health Care, Transfield Services, Perpetual, Blackmores and Ausdrill are expected to release half year results.

Meanwhile, Goodman Fielder has an extraordinary meeting on its takeover proposal.

Key numbers:

• SPI futures down 22pts at 5898
• AUD at 78.93 US cents, 93.85 Japanese yen, 69.48 Euro cents and 50.86 British pence.
• In late trade, S&P 500 +0.06%, Dow +0.03%, Nasdaq +0.07%
• In Europe, Stoxx 50 -0.2%, FTSE -0.2%, CAC -0.1%, DAX +0.04%
• Spot gold up $US3.14 or 0.3% to $US1203.67 an ounce
• Iron ore slipped 1.7% to $US62.94 per tonne
• Brent oil up $US2.40 or 4.1% to $US61.06 per barrel

What’s on today:

Australia: private business spending, average weekly earnings;

US: consumer prices, durable goods orders.

Stocks to watch:

Earnings expected from Qantas, Nine Entertainment, Goodman Fielder, Billabong, Ramsay Health Care, Transfield Services, Sydney Airport, Perpetual, Blackmores, Ausdrill.

The following stocks will trade ex dividend today: Bega Cheese, Colorpak, Lend Lease, Super Retail Group.

Commonwealth Bank is “neutral” on McPherson’s Limited with a price target cut to $1.27 a share down from $1.45 a share. “Transformation continues but challenges remain.”

Downer EDI is a “sell” at Deutsche Bank with a price target of $4.06 a share.

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