ASX to open lower after flat Wall Street session
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The news: The Australian sharemarket is due to open little changed, following a fairly flat session on Wall Street, as eyes turn to key data releases later in the week.
The numbers: The Dow Jones fell 0.25%, the broader S&P 500 lost 0.12%, while the tech-heavy Nasdaq dropped 0.41%.
In the local market, ASX 200 futures were down 4 points or 0.05% lower at 7,702 at 8:00am AEDT on Tuesday.
The context: Both the S&P 500 and the Nasdaq followed Friday's record-closing highs with marginal losses on Monday, as market heavyweight Apple lost ground after a USD2 billion ($3 billion) EU antitrust fine.
Investors are looking ahead to new US economy data releases later in the week, with service sector readings on Tuesday and non-farm payrolls data on Friday. US Federal Reserve chair Jerome Powell is also due to testify before US Congress on Wednesday and Thursday, which may offer clues on the central bank's interest plans this year.
Elsewhere, China's monthly Caixin services Purchasing Managers' Index (PMI) data, a leading indicator of economic health, is due at 12:45pm AEDT, while EU Producer Price Index (PPI) data for January is due at 9pm AEDT.
In the local market, the Australian Bureau of Statistics is due to release current account data for the fourth quarter at 11:30am AEDT.
The source: Reuters
