Outlook: Aus shares set to open lower

Market Reports

Following negative leads, the Australian share market looks set to open lower this morning after US markets closed flat on Thursday. Employment figures were the big driver, with investors waiting for U.S. jobs data, due out today, to provide guidance on market strength. Softer than expected private sector employment data reported by ADP has left some suggesting this may also be reflected in today’s report.
 
US economic news 

Due out today from the US Labor Department are reports on both the Unemployment Rate and Non Farm Payrolls.
 
Markets

Wall Street closed mixed yesterday: The Dow Jones Industrial Average gained 0.1 per cent to close at 17,661, the S&P 500 closed virtually flat at 2051 and the NASDAQ lost 0.2 per cent to close at 4717.
 
European markets closed mixed: London’s FTSE was up 0.1 per cent, Paris lost 0.1 per cent and Frankfurt gained 0.2 per cent.
 
Asian markets closed mixed: Tokyo’s Nikkei remains closed due to public holidays, Hong Kong’s Hang Seng closed down 0.4 per cent, and China’s Shanghai Composite was up 0.2 per cent.
 
The Australian share market closed higher yesterday: The S&P/ASX 200 Index closed 8 points up to finish at 5279. On the futures market the SPI is 47 points down. 
 
Currencies

The Australian Dollar at 7:20AM was buying 74.64 US cents, 51.59 Pence Sterling, 80.07 Yen and 65.47 Euro cents.
 
Economic news

Due out today from the Reserve Bank of Australia is its Monetary Policy Statement.
 
Company news
 
Future Generation Global Investment Company Limited (ASX:FGG) has confirmed the appointment of Louise Walsh as its new CEO. Previously Ms Walsh was joint CEO with Chris Donohoe. Mr Donohoe has resigned from FGG to focus on his corporate advisory firm Seed Partnerships but will remain involved with the company as a member of its Investment Committee. Shares in Future Generation Global Investment Company closed 0.94 per cent up yesterday at $1.07.
 
Xped Limited (ASX:XPE) has announced that it has signed a joint collaboration and marketing agreement with Shanhai’sTelink Semiconductor. The two companies will jointly develop a new series of semi-conductors with the integration of Xped’s Auto Discovery Remote Control technology, for use in IoT devices. Shares in Xped Limited closed 30.56 per cent up yesterday at $0.0470.
 
Commodities

Gold was down $2.10 to $US1,272 an ounce for the June contract on Comex. Silver has gained $0.03 to $17.33 for July. Copper is down $0.03 to $2.15 a pound for July. Oil has gained $0.54 to $US44.32 a barrel for April light crude in New York.