The Australian market looks set to open higher later this morning, following gains on Wall Street overnight.
The June SPI futures contract is up 29 points, at 5835.
US stocks gained some ground following the first rise in US factory orders in eight months.
Locally, the Reserve Bank has its board meeting and is widely expected to announces an interest rate cut.
Before that, the Australian Industry Group releases its Performance of Services Index (PSI) for April and the Dun and Bradstreet business expectations survey is due out.
And in equities news, ANZ releases its half year results.
Key numbers:
* SPI futures up 29pts to 5835
* AUD at 78.43 US cents, 94.19 Japanese yen, 70.36 Euro cents and 51.86 British pence
* On Wall St, S&P500 +0.3%, Dow +0.3%, Nasdaq +0.2%
* In Europe, Stoxx 50 up 0.5%, FTSE closed, CAC +0.7%, DAX +1.4%
* Spot gold up $US10.49, or 0.9% to $US1188.95 an ounce
* Brent crude down 4 US cents or 0.1% to $US66.42 a barrel
* Iron ore is fetching $US56.18 per tonne
What’s on today:
Australia new home sales, PSI services, Reserve Bank of Australia policy decision, US home prices, trade balance, Public holiday in Japan
Stocks in focus:
ANZ half-year results, Dexus update, GPT Group AGM, Transurban investor day.
Myer Holdings, Seven Group Holdings and Brambles are among 15 companies expected to have a unusually weak second half of the 2014-15 financial year, selected by investment bank Goldman Sachs, as investors brace for a rush of earnings downgrades. Qantas Airways, Asciano and Flight Centre, conversely, are among 21 companies expected to have a stronger-than-expected second half.
RBC Capital Markets has an “outperform – speculative risk” recommendation on Karoon Gas Australia and a target price of $4 a share as initial drilling results have been positive in the Santos Basin in Brazil, a key driver for growth.
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