Australian stocks are set to drop at the open. In the US the S&P 500 dropped to a three-week low and the Nasdaq tumbled more than 2 per cent before paring losses. Shares of Atlassian took a hit in New York, down 7.8 per cent to $US85.67. The Dow suffered its first decline in six sessions, as global bond yields continued to rise. On the commodities front, oil has fallen $1.78 dragging down energy-related stocks, meanwhile gold gained 80 cents.
Local economic news
The Australian Bureau of Statistics will release Retail Trade figures for August 2018.
And AiG will released construction figures for September.
Wall Street closed lower yesterday. The Dow Jones Industrial Average lost 0.8 per cent to close at 26,627, the S&P 500 lost 0.8 per cent to 2,902 and the NASDAQ ended 1.8 per cent lower to close at 7880.
European markets closed lower yesterday: London’s FTSE lost 1.2 per cent, Paris dropped 1.5 per cent and Frankfurt fell 0.4 per cent.
Asian markets closed lower, Tokyo’s Nikkei fell 0.6 per cent, Hong Kong’s Hang Seng dropped 1.7 per cent and China’s Shanghai Composite was closed.
On the futures markets, the ASX futures are pointing to a 27 points fall. Yesterday, the Australian share market closed higher with the S&P/ASX 200 Index closing 30 points higher to 6176.
Pacific Current Group (ASX:PAC) has completed the sale of its interests in Aperio Group. They received US$71.9 million of sale proceeds, pre-tax, and expect to receive an additional US$2.6 million today. Pacific Current Group is a multi-boutique asset management firm with 16 boutique asset managers globally.
Shares in Pacific Current Group (ASX:PAC) closed 0.2 per cent higher to $6.51 yesterday
Mineral Resources (ASX:MIN) announced that Derek Oelofse has been appointed joint Company Secretary of the Company and of all the subsidiaries of the Company.
Shares in Mineral Resources (ASX:MIN) closed 0.2 per cent higher to $16.39 yesterday
Clime Capital (ASX:CAM) is paying 1.25 cents fully franked
Concentrated Leaders (ASX:CLF) is paying 1.25 cents fully franked
HT&E (ASX:HT1) is paying 72 cents fully franked
One Australian Dollar at 7:40AM was buying US70.77 cents, 54.39 Pence Sterling, 80.60 Yen and 61.49 Euro cents.
Gold gained 80 cents to $US1204 an ounce.
Silver was down 5 cents at $US14.62 an ounce.
Oil fell $1.78 to $US74.63 a barrel.
The three most traded cryptocurrencies are trading higher: Bitcoin has added 1.5 per cent to US$6580, Ethereum has gained almost 1 per cent to US$221 and XRP has risen 0.8 per cent to US52.74 cents.