The Australian market looks set to open lower after Wall Street steadied to close flat following data showing that US manufacturing had declined.

The SPI is trading down 8 points, at 5397.

The Institute for Supply Management said its index of national factory activity fell to 49.4 in August, below expectations of economists polled by Reuters for a dip to just 52.0. It was the first contraction in manufacturing since February. But data on the labour market pointed to a pick-up in third-quarter economic growth.

Locally, no major economic or equities news is expected.

Key Numbers

• The SPI is trading down 8 points, at 5397
• AUD +0.5% to 75.51 US cents
• On Wall St, Dow +0.1, S&P 500 flat, Nasdaq +0.3%
• In Europe, Stoxx 50 -0.2%, FTSE -0.5%, CAC flat, DAX -0.6%
• Spot gold +0.4% to $US1313.91 an ounce
• Brent crude -2.9% to $US45.51 a barrel

What’s on today

No major economic or equities news is expected locally today.

The post Morning market update 2 September, 2016 appeared first on Market Pulse.