Despite negative leads from US markets, the Australian share market looks set to open flat according to ASX Futures.
The Nasdaq fell for the first time this year after President-elect Donald Trump disappointed investors during his first news conference since July 2016. The S&P500 was weighed down by financials which was one of the worst performing sectors.
US economic newsWeekly jobless claims rose by 10,000, to 247,000 for the week ending January 7. This was less than economists expected. U.S. import prices rose by 0.4% in December, compared to November. The rise was driven by higher imported fuel prices.
MarketsWall Street closed lower yesterday: The Dow Jones Industrial Average fell 0.32 per cent to close at 19,891, the S&P 500 dropped 0.2 per cent to close at 2,270 and the NASDAQ lost 0.3 per cent to close at 5,547.
European markets closed mixed: London’s FTSE gained 0.03 per cent, Paris lost 0.5 per cent and Frankfurt shed 1.1 per cent.
Asian markets closed lower: Tokyo’s Nikkei lost 1.2 per cent, Hong Kong’s Hang Seng declined 0.5 per cent, and China’s Shanghai Composite retreated 0.6 per cent.
And back home, the Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 5 points lower to finish at 5,767. On the futures market the SPI is up 7 points.
Currencies The Australian Dollar at 8.30am was buying $US74.92 cents, 61.59 Pence Sterling, 85.93 Yen and 70.59 Euro cents.
Company News Highlands Pacific
(ASX:HIG) and its Chinese state owned joint venture have received an independent technical review of its Frieda River project Feasibility study. The resource company says it’s reviewing the findings and will make further announcements soon. Shares in Highlands Pacific closed 3.33% lower yesterday to last trade at $0.058.
CommoditiesGold has lost 40 cents to $US1,196 an ounce for the February contract on Comex.
Silver is down 2 cents to $16.80 an ounce for the March contract.
Copper is 6 cents higher to $2.67 a pound for the March contract..
Oil has gained 81 cents, to $US53.87 a barrel for February light crude.
