Aussie stocks have a slightly negative lead from US stocks this morning as investors there await a speech from Federal Reserve Chairwoman Janet Yellen.
Ms Yellen is expected to deliver a much anticipated address at the Jackson Hole symposium with most analysts expecting some hint that the US central bank will start raising interest rates soon in response to recent strong economic data.
US economic newsWeekly jobless benefits fell to 261,000 for the week ended August 20. That makes it 77 consecutive weeks claims for unemployment have been below 300,000, the threshold associated with a strong labor market.
Elsewhere durable goods orders rose a higher-than-expected 4.4 per cent in July on the back of higher demand for passenger jets.
MarketsWall Street closed lower yesterday: The Dow Jones Industrial Average lost 0.2 per cent to close at 18,448, the S&P 500 lost 0.1 per cent to close at 2,172 and the NASDAQ lost 0.1 per cent to close at 5,212.
European markets closed lower: London’s FTSE shed 0.3 per cent, Paris lost 0.7 per cent and Frankfurt slipped 0.9 per cent.
Asian markets closed mixed: Tokyo’s Nikkei dipped 0.3 per cent, Hong Kong’s Hang Seng was virtually flat, and China’s Shanghai Composite retreated 0.6 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 20 points down to finish at 5,542. On the futures market the SPI is 5 points up.
CurrenciesThe Australian Dollar at 7:20AM was buying 76.17 US cents, 57.77 Pence Sterling, 76.59 Yen and 67.51 Euro cents.
Earnings seasonFour companies are expected to release earning results today. Investors can expect to hear from Coca Cola Amatil
(ASX:CCL), Super Retail Group Limited
(ASX:SUL) Mayne Pharma Group
(ASX:MYX) and the Star Entertainment Group
(ASX:SGR).
Company newsVirgin Australia Holdings Limited
(ASX:VAH) has welcomed the ACCC’s draft determination that it can go ahead with its alliance with Singapore Airlines for another five years. A final decision is expected shortly. Shares in Virgin Holdings last traded steady at 23.5 cents
And Sandfire Resources NL
(ASX:SFR) says that Chief Operating Office Mike Spreadborough will be moving on to other opportunities in the resource sector. Martin Reed has been appointed interim COO. Shares in Sandfire last traded 1.46 per cent lower at $5.39.
Ex-dividends
CommoditiesGold has slipped $4.60 to US$1325 an ounce for the December contract on Comex. Silver has dipped 7 cents to $18.62 for September. Copper is steady at $2.08. Oil is up $0.61 to $US47.38 a barrel for October light crude in New York.
