The Aussie market is, somewhat surprisingly, poised to open higher later this morning following another volatile night on Wall Street which saw the Dow trade down 565 points at one point.
Further falls in crude prices and ongoing concerns about the health of the global economy continenu to weigh.
The March SPI futures contract is up 20 points, at 4822.
WTI oil fell around eight per cent overnight, before pulling back to be down more than six per cent, or $US1.80, at $US26.66 at 0700 Thursday AEDT. Brent crude was down 2.54 per cent, or 73 US cents, at $28.03.
In local economic news today, the HIA releases new home sales data for November.
In equities space, Woodside Petroleum is slated to release its fourth quarter production report, while Oz Minerals posts its December production report and Senex Energy has a December quarter report briefing.
Australia consumer inflation expectations January, HIA new home sales November. Euro inflation for December, Euro consumer confidence January. France manufacturing confidence January. US Philadelphia Fed manufacturing January. Earnings: Verizon, Amex, Starbucks, United Continental, Schlumberger.
A measure of volatility over 10 days on BHP’s London stock jumped to the highest since September 10 on Wednesday. The stock tumbled 7.4 per cent in London trading to its lowest in 11 years, extending its decline this year to 24 per cent amid mounting speculation it will cut its dividend next month. BHP’s drop this year has outpaced declines by Glencore and Rio Tinto Group in London.
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