The Australian share market is poised to open higher, after better-than-expected earnings reports continue to come out of Wall Street.
Alphabet posted better-than-expected quarterly results after the bell. About 180 S&P 500 components plan to report, including large-cap tech stocks as Facebook and Amazon.
The Nasdaq composite jumped 0.36 per cent higher, hitting an intraday and closing record.
The S&P 500 closed 0.11 per cent lower, with utilities and telecommunications leading decliners.
The Dow Jones fell 0.31 per cent, with Johnson & Johnson offering the most losses.
Meantime, gold has hit a one-month high.
US economic newsMarkit's flash US Composite PMI increased to 54.2 in July. The result is a six month high, and signals the strongest rate of expansion since January. It follows 53.9 in June.
The result comes on the back of increases in US manufacturing production in July. Markit's flash US manufacturing purchasing managers’ index increased to 53.2 in July. It marks a four-month high, and follows 52 in June.
According to the National Association of Realtors, existing home sales fell 1.8 per cent in June to a seasonally adjusted annual rate of 5.52 million. The fall of 0.8 per cent, is larger than expectations for a decrease of 0.5 per cent. The data comes of the back of strong housing demand, resulting in increases in home prices.
Local economic newsDue out today, ANZ Bank and Roy Morgan will release its weekly consumer confidence survey data.
MarketsWall Street closed mixed yesterday: The Dow Jones Industrial average lost 0.3 per cent to close at 21,513, the S&P 500 lost 0.1 per cent to close at 2,470 and the NASDAQ rose 0.4 per cent to close at 6,411.
European markets closed mixed: London’s FTSE fell 1 per cent, Paris jumped 0.2 per cent and Frankfurt fell 0.3 per cent.
Asian markets closed mixed: Tokyo’s Nikkei fell 0.6 per cent, Hong Kong’s Hang Seng rose 0.5 per cent and China’s Shanghai Composite rose 0.4 per cent.
The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 35 points down to finish at 5,688. On the futures market, the SPI is 13 points up.
Company newsPhylogica Limited
(ASX:PYC) has appointed Mr Kevin Hart as Company Secretary and Chief Financial Officer, replacing retiring secretary, Mr Graeme Boden. The drug discovery company says Mr Hart has over thirty years experience in accounting, management and the adminstration of public listed companies. Mr Hart is currently a partner in advisory firm, Endeavour Corporate, which specialises in secretarial and accounting services for ASX listed entities. Shares in Phylogica Limited
(ASX:PYC) closed 8.16 per cent lower to 4.5 cents.
Ex-dividendsOne company is going ex-dividend today:
Viva Energy REIT
(ASX:VVR) is paying 6.6 cents unfranked.
Currencies The Australian Dollar at 7.30AM was buying 79.26 US cents, 60.85 Pence Stirling, 88.08 Yen and 68.10 Euro cents.
Commodities Gold has gained 80 cents to $US1,262 an ounce.
Silver has gained 1 cent to $US16.46 an ounce.
Oil has jumped 71 cents to $US46.48 a barrel.
