Australian Stock Report - Market Pulse

Morning market update 9 May, 2016

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Publish date: Mon, 09 May 2016, 10:58 AM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

The Australian market looks set to open higher after gains on US and European markets despite concerns over global growth and the failure of extraordinary central bank stimulus keeping a lid on any optimism.

The SPI is up 24 points this morning, at 5274.

In economic news, the ANZ job advertisements series for April is due out.

In equities news, Commonwealth Bank is expected to release its March quarter trading update and Orica is slated to post half-year results.

Key Numbers:

  • The SPI is up 24 points this morning, at 5274.
  • AUD -1.4% to 73.64 US cents, 78.77 Japanese yen, 64.57 British pence and 51.05 Euro cents
  • On Wall St, Dow +0.5%, S&P 500 +0.3%, Nasdaq +0.4%
  • In Europe, Stoxx 50 -0.1%, FTSE +0.1%, CAC -0.4%, DAX +0.2%
  • In London, BHP +1.6%, Rio +0.9%
  • Spot gold +0.9% to $US1289 ounce on Friday in New York
  • Brent crude settled +0.8% at $US45.37 barrel Friday
  • Iron ore -3.3% to $US58.29 tonne Friday

What’s on today:

Local data: NAB business confidence April, ANZ job ads April

Overseas data: BoJ March meeting minutes, Japan consumer confidence April; UK Halifax house prices April, Germany factory order March; US labour market index April

Fed speakers: Minneapolis boss Neel Kashkari, Chicago president Charles Evans

Earnings: Liberty Interactive, Tyson Foods, Xcel Energy, HCP, Silver Wheaton, Inter Pipeline, Sotheby’s, Intrepid Potash, AES, Liberty Global, Enel, PostNL, Europcar Groupe

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