Australian Stock Report - Market Pulse

Morning market update 16 May, 2016

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Publish date: Mon, 16 May 2016, 10:13 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 lower after Wall Street fell, despite upbeat retail data, as a decline in oil prices added to pressure from consumer companies with gloomy quarterly reports from Nordstrom and JC Penney.

The SPI is down 32 points, trading at 5299.

Locally, no major economic news is expected.

In equities news, Elders is expected to release half year results.

Key Numbers

  • The SPI is down 32 points, trading at 5299.
  • AUD at 72.52 US cents, 78.81 Japanese yen, 64.15 Euro cents and 50.55 British pence
  • On Wall St, Dow -1%, S&P -0.9%, Nasdaq -0.4%
  • On the Dow, Wal-Mart -2.9%, Caterpillar -2.3%, DuPont -2.1%
  • In Europe, Stoxx 50 +0.7%, FTSE +0.6%, CAC +0.6%, DAX +0.9%
  • In London, BHP+1.9%, Rio +1%
  • Spot gold +0.8% to $US1273.45 ounce on Friday in New York
  • Brent crude -0.5% to $US47.85 barrel on Friday in New York
  • Iron ore -0.9% to $US54.54 tonne on Friday

What’s on today

Local data: NZ PSI

Local earnings: Elders

Bank of Japan current account; US Empire State manufacturing (May), US NAHB homebuilder sentiment (May), US Treasury net international capital flows (March); Bank of Canada biannual economic review.

Fed speaker: Neel Kashkari.

Overseas earnings: Amaya, Kirkland Lake Gold, British Land, ICAP.

The post Morning market update 16 May, 2016 appeared first on Market Pulse.

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