Australian shares are set to open lower this morning despite a climb yesterday. US stocks had a volatile day yesterday only to snap higher. The rebound followed a shaky start to the week but Yesterday Wall St eased some of the month's brutal losses before the end of October. ANZ (ASX:ANZ) are set to report their results later this morning – the first of the big banks.
To the US markets now – Dow is 1.8 per cent higher at 24875, S&P 500 is 1.6 per cent higher at 2683 and the NASDAQ is 1.6 per cent higher at 7162
European markets are all mixed with London’s FTSE is 0.1 per cent higher Paris has lost 0.2 per cent and Frankfurt has lost 0.4 per cent.
Asian markets are mixed Nikkei is 1.5 per cent higher Hang Seng is 0.9 per cent lower and the shanghai composite has gained 1 per cent.
Taking all of this into equation, the ASX futures are pointing 5 points lower. Yesterday the Australian share market closed higher with the S&P/ASX 200 Index closing 77 points higher that’s 1.3 per cent higher at 5805
Local economic news
AiG - performance of manufacturing is to be released for October, CoreLogic will release dwelling prices for October, And ABS will release the Consumer Price Index for September 2018.
Shares in jewellery chain Lovisa (ASX:LOV) dropped as the company released results of their AGM yesterday.
Same-store sales fell 0.9 per cent in the previous financial year. NPAT was up 24 per cent to $36 million on the prior corresponding period and EBIT was up 26 per cent to $51.1 million. Revenue was up 21.4 per cent to $217 million. Final dividend is 14 cents per shares fully franked. Chairman Michael Kay noted that Spring racing and Christmas will play a large part in the full year's performance. Shares in Lovisa (ASX:LOV) closed 18.5 per cent lower at $6.85
MCP Master Income paying 0.9 cents fully franked.
One Australian Dollar at 7:30AM was buying 71.04 US cents, 59.92 Pence Sterling, 80.26 Yen and 62.63 Euro cents.
Gold has lost $2.20 to US$1225 an ounce.
Silver has lost $0.04 to US$14.48 an ounce.
Oil has lost $0.88 to US$66.16 a barrel.
Iron Ore has gained 0.3 per cent to at US$76.71 It futures suggest a 1.1 per cent fall.
Bitcoin has fallen 0.04 per cent to US$6320, Ethereum flat at US$196, and EOS is flat at $5.12.