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Good morning and welcome to Market Open.
The Australian sharemarket looks set to fall, tracking losses on Wall Street overnight, but losses may prove shortlived on news that China and the US are meeting this week for trade talks.
ASX futures were down 31 points, or by 0.4 per cent, predicting the S&P/ASX 200 index would extend losses for a third session as investors await further market updates from companies during the Macquarie Australia conference in Sydney.
That follows Wall Street’s guidance, with the US markets falling overnight and the S&P500 closed down around 0.8%.
In ASX news: NAB has booked a $3.58 billion profit, 1% higher than the prior period, JB Hi-Fi has report growth across all segments of its business, and ASIC has announced further restrictions on Macquarie’s licence.
On the markets:
- The Aussie dollar has been 64.95 US cents
- Gold is up to $3431 per ounce
- Brent Oil is fetching $62.05 a barrel
All eyes are on the US Fed Reserve in the lead up to its rates decision early tomorrow morning Australian time.
That’s Market Open, have a great day.
