Good morning and welcome to the second last day of the trading week.
The local share market is set to fall just short of -0.2% per ASX200 futures around 8.30am Sydney time.
On Wall Street overnight, US markets finished red once more as bond yields continue to suggest a longer path to the next Fed cut.
The S&P 500 finished down nearly a percent, the NASDAQ down -1.6%.
Looking at the ASX,
Super Retail Group has flagged slowing sales in an ‘uncertain’ economy, and packaging heavyweight Brambles has suggested the same with a warning on flat volumes for its pallets which other companies need to transport goods.
Over at Wisetech, Richard White is copping more heat – this time, the call is coming from inside the house. Another company Director has accused the founder of bullying behaviour; Morningstar see a one-in-four chance the CEO could leave the building.
In forex, the Aussie is buying around 67 US cents.
Looking at commodities which are in the greenback,
Brent Crude is fetching just under $75 a barrel,
Gold is currently worth $2,715 an ounce,
Iron ore on the Singapore SGX benchmark has dropped below $100 per tonne, fetching $98.80/tn, and,
US natgas at $2.40 per gigajoule.
That’s Market Open, I’m Jonathon Davidson, stick with us for HotCopper’s market update.