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The local share market is tipped to open relatively unchanged to start the trading week with futures predicting just a .05 per cent gain.
Nvidia drove the Nasdaq to near-historic highs last week before the index closed nearly 0.3 per cent in the red. The Dow Jones finished .16 per cent higher and the S&P 500 closed mostly unchanged.
Let’s take a look at the week ahead back home.
On Tuesday, Coles Group (ASX: COL) will release earnings profits reports amid the shelf price inquiry. Goldman Sachs predicts the company will report a steady profit margin despite a 9.2 per cent decline in first-half earnings ($986 million) and a 6.6 per cent sales increase ($22.3 billion).
Woodside (ASX:WDS) is expecting to report a 34.5 per cent drop in earnings. While Suncorp (ASX:SUN) and NIB Holdings (ASX: NHF) will also release interim numbers today
According to CBA, we may see a retail sales rebound of 1.3 per cent after December’s 2.7 per cent fall, When the consumer price index data is released on Thursday.
CoreLogic’s Friday data is also tipped to reveal a 0.6 per cent gain in median house prices across eight cities for February & the RBA will sit for its Payments System Board meeting on Thursday.
Stories trending on HotCopper today include, LaserBond (ASX:LBL), which finalised details for the Gateway Parts & Equipment agreement. Consideration is 4.5 times Gateway’s FY23 EBITDA ($5.6M), totalling $10 million for the 40 per cent share. And engineering group, Monadelphous Group (ASX:MND) has announced the award of new construction and maintenance contracts and extensions in the resources and energy sectors valued at over $140 million in total.
The Aussie dollar is buying 66 US cents,
Iron ore is at $122.50, gold is sitting steady at $2035, crude oil has slipped nearly three per cent to just below $76.50, and natural gas has tumbled more than eight per cent to below the $1.60 mark once again, trading at $1.58.
