Australian shares to edge higher after mixed Wall Street session
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The news: The Australian sharemarket is poised to open slightly higher after a mixed session on Wall Street amid concerns about slowing US economic growth.
The numbers: The Dow Jones index ended 0.23% lower, while the broader S&P 500 gained 0.45% and the tech-heavy Nasdaq advanced 0.84%. In the local market, ASX 200 futures were up just 8 points or 0.10% at 8,008 points at 7am AEST on Wednesday.
The context: While two of the three major US indices ended higher, gains were capped by concerns about slowing economic growth as energy stocks tumbled on a weak demand forecast and bank stocks fell after Goldman Sachs and JP Morgan tempered earnings expectations.
It comes amid election uncertainty ahead of the televised debate between Democratic presidential candidate Kamala Harris and Republican candidate Donald Trump.
Investors will closely monitor the August consumer price index inflation report due later on Wednesday and the producer prices report on Thursday.
The source: Reuters
