Following mixed yet mostly flat leads from Wall Street, after retail stocks fell, the Australian share market is poised for a flat start.
Home Depot announced better than expected earnings and sales, but its stock fell almost 3 per cent. Another retailer, Advance Auto Parts posted its worst day ever, after announcing weaker-than-expected earnings. Dick’s Sporting Goods also copped a hit, shedding 23 per cent.
Meantime, banks stocks firmed up on the back of better than expected economic news.
US economic news US retail sales rose 0.6 per cent in July, beating forecasts of a 0.4 per cent rise. It is the biggest increase in seven months and was largely driven by consumers snapping up motor vehicles, as well as discretionary spending. It also follows June’s revised 0.3 per cent rise.
The New York Fed’s Empire State manufacturing index surged to a reading of 25.2 in August from just 9.8 in July. It the highest level in nearly three years and beat expectations it would hold at 9.8.
Local economic news The ABS will announce the main measure of wages, the wage price index for the June quarter. We can expect that data at 11.30am.
Markets Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.02 per cent to close at 21,999, the S&P 500 slipped 0.05 per cent to close at 2,465 and the NASDAQ shed 0.1 per cent to close at 6,333.
European markets closed higher: London’s FTSE added 0.4 per cent, Paris gained 0.4 per cent and Frankfurt rose 0.1 per cent.
Asian markets closed mixed: Tokyo’s Nikkei added 1.1 per cent, Hong Kong’s Hang Seng fell 0.3 per cent, and China’s Shanghai Composite added 0.4 per cent.
And back home, the Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 27 points up or 0.47 per cent higher to finish at 5,757.
On the futures market the SPI is 5 points down.
To company newsEpat Technologies
(ASX:EPT) has published a clinical study confirming its ePAT App, is a valid and reliable point-of-care pain assessment tool for people with dementia. Its phone app uses smarphone technology to capture a brief video of a person to detect the presence of facial-expressions that indicate pain. The company is now working with the healthcare community to commercialise the app. Shares in Epat Technologies
(ASX:EPT) last traded at 1.75 per cent lower yesterday to 5.6 cents.
Reporting seasonJust to name a few, we can watch out for Computershare
(ASX:CPU), Fairfax Media
(ASX:FXJ), Seek
(ASX:SEK), Stockland
(ASX:SGP), Westfield Corporation
(ASX:WFD) Woodside Petroleum
(ASX:WPL) and which are set to report financial results today.
To ex-dividends8 companies are going ex-dividend today:
Advanced Share
(ASX:ASW) is paying 2.1 cents fully franked,
Bentley Capital
(ASX:BEL) is paying 0.5 cents fully franked,
The Commonwealth Bank
(ASX:CBA) is paying $2.30 fully franked,
HFA Holdings
(ASX:HFA) is paying 10.1 cents un franked,
Katana Capital
(ASX:KAT) is paying 0.5 cents 75 per cent franked,
Konekt
(ASX:KKT) is paying 0.75 cents fully franked,
Resmed
(ASX:RMD) is paying 3.06 cents unfranked,
and Suncorp Group
(ASX:SUN) is paying is paying 40 cents fully franked.
CurrenciesOne Australian Dollar at 7:40AM was buying 78.21 US cents, 60.82 Pence Sterling, 86.54 Yen and 66.67 Euro cents.
Commodities Gold has lost $13.50 to $US1,277 an ounce.
Silver has fallen by $0.50 to $US16.63 an ounce.
Oil has gained $0.11 to $US47.84 a barrel.
