The Australian share market looks set to open slightly lower, ignoring Wall Street’s rise thanks to tech and financial stocks gaining and despite a rise in commodities prices.
At 0700 AEDT on Friday, the share price futures index was down nine points, or 0.15 per cent, at 6,037.
In the US, Apple’s 0.4 per cent rise along with gains in high-flying FANG stocks – Facebook, Amazon, Netflix and Alphabet – were the biggest drivers of the S&P and the Nasdaq.
Commodities were also in the spotlight, with oil prices near their two-and-a-half-year highs and copper at a four-year peak, helping global equities hit record levels.
In late afternoon trading, the Dow Jones Industrial Average was up 0.18 per cent, the S&P 500 was up 0.06 per cent and the Nasdaq Composite was up 0.04 per cent.
Locally, in economic news on Friday, the Reserve Bank of Australia releases November private sector credit data.
No major equities news is expected.
The Australian market on Thursday closed stronger as energy and mining stocks continue to perform despite a quiet post Christmas session.
The benchmark S&P/ASX200 index rose 18.2 points, or 0.3 per cent, to 6,088.1 points.
The broader All Ordinaries index gained 19.7 points, or also 0.3 per cent, to 6,189.4 points.
Meanwhile, the Australian dollar is little changed, still hovering at a two-month high and just under the 78 US cent mark after the greenback fell to a four-week low.
The local currency was trading at 77.95 US cents at 0700 AEDT on Friday, from 77.97 on Thursday.
CURRENCY SNAPSHOT AT 0700 AEDT:
One Australian dollar buys:
*77.95 US cents, from 77.97 on Thursday
* 87.98 Japanese yen, from 87.93 yen
* 65.23 euro cents, from 65.34 euro cents
* 57.98 British pence, from 58.02 pence
* 109.97 NZ cents, from 109.96 cents
The spot price of gold in Sydney at 0700 AEDT was $US1,294.70 per fine ounce, from $US1,292.44 per fine ounce on Thursday.
BOND SNAPSHOT AT 0700 AEDT:
* CGS 4.50 per cent April 2020, 2.0736pct, unchanged
* CGS 4.75pct April 2027, 2.6419pct, unchanged
Sydney Futures Exchange prices:
* March 2018 10-year bond futures contract at 97.300 (implying a yield of 2.700pct), from 97.473 (implying a yield of 2.527pct) on Thursday
* March 2018 3-year bond futures contract at 97.805 (2.195pct), from 97.955 (2.045pct).
(*Bond market closes taken at 1630 AEDT previous local session; currency closes taken from 1700 AEDT previous local session)