Australian shares to open higher after tech lifts Wall Street
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The news: The Australian sharemarket is set to open higher after tech stocks helped boost the S&P 500 and the Nasdaq while investors await a slew of US economic data this week.
The numbers: Updated at 7.25am AEDT:
- ASX futures: up 64 points or 0.76% at 8,529 points
- Wall Street: Dow Jones down 0.17%, S&P 500 up 0.26%, Nasdaq up 0.93%
- Europe: FTSE 100 up 0.31%, CAC 40 up 0.02%, DAX up 1.57%
- Spot gold: up 0.01% to USD2,643.46 per ounce
- Oil prices: Brent down 0.04% to USD71.81/ barrel, US WTI up 0.04% to USD68.03/bbl
- AUD: down 0.52% at 64.79 US cents
- Bitcoin: down 1.34% to USD95,9899.90.
The context: Overnight, data from the Institute for Supply Management (ISM) showed US manufacturing activity improved in November. A reading of October job openings is due on Tuesday, while November private payrolls data is due Wednesday.
But the week's centrepiece is the November non farm payrolls report due on Friday, a key metric in gauging the state of the US labour market. Among major movers, Super Micro Computer surged nearly 25% after the AI server maker began its search for a new finance chief, while Intel gained 5% after the chipmaker announced chief executive Pat Gelsinger's retirement.
What to Watch: Half-year results from KFC-owner Collins Foods; Bank of Queensland’s annual general meeting; and balance of payments and international investment position data for the September quarter at 11:30am AEDT.
The source: Bloomberg
