The Aussie market will open lower later this morning following falls on Wall Street overnight, where stocks were dragged down by media company results.

The September SPI futures contract is down 33 points, at 5495.

In local economic news today, the Reserve Bank of Australia’s Statement on Monetary Policy is due out while the Australian Bureau of Statistics releases June’s overseas arrivals and departure figures, and housing finance data also for June.

The Australian Industry Group/Housing Industry Association performance of construction index (PCI) is also due out while the Financial Services Council’s annual conference continues in Brisbane.

In equities news, Virgin Australia is expected to post full-year results.

Orica chief executive Alberto Calderon is scheduled to speak at a Melbourne Mining Club lunch.

Key numbers:

– SPI futures down 33pts to 5495

– AUD at 73.44 US cents, 91.60 Japanese yen, 67.21 Euro cents and 47.33 British pence

– On Wall St, S&P 500 -0.8%, Dow -0.7%, Nasdaq -1.6%

– In Europe, Stoxx 50 -0.2%, FTSE -0.1%, CAC -0.1%, DAX -0.4%

– Iron ore slips 0.7% to $US56.40 per ton

– Spot gold up $US4.68 or 0.4% to $US1089.71 an ounce

– Brent crude up 5 US cents or 0.1 to $US49.64 a barrel

What’s on today

Friday: Australia housing finance, Statement on Monetary Policy from RBA; The Bank of Japan will announce monetary policy at the end of a two-day meeting in Tokyo; German industrial production; France industrial production; US non-farm payrolls, Baker Hughes rig count for oil and gas, consumer credit

Saturday: China imports, exports, trade balance (July)

Stocks in focus

Deutsche Bank maintains a “buy” recommendation on Skilled Group and a price target at $1.90 a share.

Deutsche Bank preview: “We expect gaming sector earnings to surprise to the upside in the upcoming reporting period given strong domestic and VIP gambling expenditure, good cost control, and lower funding costs. We expect all companies to exceed consensus estimates.”

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