Weak US jobs data counteracts stimulus hopes: Aus shares set to open lower

15Jan

Weak US jobs data counteracts stimulus hopes: Aus shares set to open lower

 

Australian shares are poised to edge lower at the open following negative leads from Wall Street. The Dow and the Nasdaq hit record highs during the sessions on optimism that President-elect Biden may propose a Covid stimulus package of up to $US2 trillion. US markets lost steam at the end of the session though and closed lower after weak labour data rolled in. Meanwhile, European shares advanced for a third straight session.

Local economic news

Today we are expecting the Australian Bureau of Statistics to release lending indicator data for the month of November.

International markets

Wall Street closed lower yesterday: The Dow Jones Industrial Average shed 0.2 per cent, the S&P 500 lost 0.4 per cent and the NASDAQ closed 0.1 per cent lower.

European markets closed higher, London’s FTSE gained 0.84 per cent, Paris added 0.3 per cent and Frankfurt closed 0.4 per cent higher.

Asian markets closed mixed, Tokyo’s Nikkei gained 0.9 per cent, Hong Kong’s Hang Seng added 0.9 per cent and China’s Shanghai Composite closed 0.9 per cent lower.

Taking all of this into equation, the SPI futures are pointing to a 0.1 per cent fall at the open.

Yesterday, the Australian share market closed 0.4 per cent higher at 6715.

Company news 

Payment solution specialist Integrated Research (ASX:IRI) is in the early stages of preparing its interim financial statements for the six months ending 31 December 2020. In late December the company estimate that revenue for the period would be in the range of $34 to $37 million. It projected that profit after tax would be in the range of breakeven to $2 million. Based on internal management accounts and subject to audit review, it now projects that both its revenue and its profit after tax will be at the lower end of these ranges. Shares in Integrated Research (ASX:IRI) closed 2.8 per cent lower at $2.48.

Currencies

One Australian Dollar at 8:00 AM was buying 77.88 US cents, 56.90 Pence Sterling, 80.77 Yen and 64.05 Euro cents.

Commodities

Gold has lost $7.40 to US $1848 an ounce.
Silver was up $0.05 to US $25.63 an ounce.
Oil was up $0.34 to US $51.40 a barrel.
Iron Ore futures suggest 2.1 per cent rise.
 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

19Mar

Australia’s population grows by 1.5%: ASX 0.5% higher at noon

19 Mar 2020 - The ASX rose at the open and is now tracking 0.5% lower at noon. Travel companies are being hit hard with Flight Centre Travel Group (ASX:FLT) and Corporate Travel Management (ASX:CTD) seeing their shares fall. Credit Corp (ASX:CCP) shares saw a huge drop of almost 35 per cent. Gains were seen this morning in Rio Tinto (ASX:RIO) despite an earthquake near its Kennecott mine near Salt Lake City, in Utah in the US. Harvey Norman...

Read More
02Jan

Wattle (ASX:WHA) rights issue falls short: Aus shares flat at noon

02 Jan 2020 - The Australian share market opened lower rebelling against positive leads from the US and is now tracking 0.04% lower at noon. Organic baby formula company, Wattle Health Australia (ASX:WHA) was unable to secure the $55 million funding, required as the minimum offer amount to purchase nutritional dairy manufacturer, Blend and Pack during its recent rights issue.

Read More
11Apr

Bank reporting season to provide further market volatility

11 Apr 2023 - The S&P 500 ticked slightly higher Monday as investors looked ahead to key inflation data this week.

Read More
15May

Consumer sentiment index falls to a six-month low

15 May 2023 - The S&P 500 fell Friday as concerns around the US economy dampened investor sentiment. The S&P 500 and Dow fell for a second consecutive week, down 0.29% and 1.11%, respectively. The Nasdaq gained 0.4%.

Read More
12Feb

Genworth (ASX:GMA) scraps dividend after $174M loss: Aus shares 0.3% lower at noon

12 Feb 2021 - The Australian share market opened flat following mixed leads from Wall Street and is tracking 0.3 per cent lower at noon. Most of the sectors are down this morning with Energy suffering the worst losses. Genworth Mortgage Insurance Australia (ASX:GMA) has scrapped its dividend after recording a $174.1 million loss for the 2020 financial year. The company made a statutory net loss after tax of $107.6 million.

Read More
20Oct

US stocks slide following comments from Fed Chair Jay Powell

20 Oct 2023 - Stocks slid on Thursday as Wall Street parsed commentary from Federal Reserve Chair Jerome Powell while monitoring a key milestone for a closely followed bond yield.

Read More
10Sep

Syrah shares drop after reducing graphite production: ASX tracking 0.5% lower at noon

10 Sep 2019 - The ASX fell at the open is now tracking 0.5% lower at noon. Syrah Resources (ASX:SYR) have seen a drop in their shares after reporting they will significantly reduce graphite production volumes after a drop in prices in China. Galaxy Resources (ASX:GXY) shares are rising as are shares in Whitehaven Coal (ASX:WHC). Ramsay Health Care (ASX:RHC) has appointed James McMurdo as a non-executive director.

Read More
11Sep

S&P 500 lifts as Wall St seeks stability amid September turbulence

11 Sep 2024 - The S&P 500 marked its second consecutive winning session on Tuesday as Wall Street worked to stabilise during a turbulent September.

Read More
12Nov

Dow hits record as post-election rally gains momentum

12 Nov 2024 - The Dow Jones Industrial Average surged over 300 points on Monday, closing at a new all-time high as the post-election rally continued to gain momentum.

Read More
14Jul

Stocks extend gains on better-than-expected PPI data

14 Jul 2023 - Stocks rose Thursday after June’s producer price index report rose less than anticipated, building upon optimism from Wednesday’s consumer price index data. The PPI rose 0.1 per cent in June.

Read More