The Australian share market looks set to open higher despite an uninspiring Wall Street session.
At 0700 AEDT on Friday, the share price futures index was up 17 points, or 0.29 per cent, at 5,969.
The US market’s strong rally ran out of steam on Thursday – a day after the Dow Jones Industrial Average closed above 26,000 points for the first time.
After being in the red most of the day, Wall Street mainly turned around, but with little conviction.
In late afternoon trading (0716 Friday AEDT), the Dow Jones Industrial Average was down 0.20 per cent, but still above the landmark 26,000 points at 26,064.42.
The S&P 500 was up 0.04 per cent, and the Nasdaq Composite was up 0.14 per cent.
Locally, in economic news on Friday, the Australian Bureau of Statistics releases November’s lending finance data.
In equities news, Australian-originated tech company Atlassian is slated to release its financial results for the second quarter after the close of the markets in the US.
The Australian market on Thursday closed barely lower, with banks and consumer stocks among the few sectors to record gains as energy and mining stock weakness weighed on the market.
The benchmark S&P/ASX200 index fell 1.2 points, or 0.02 per cent, to 6,014.6 points.
The broader All Ordinaries index lost 3.9 points, or 0.06 per cent, to 6,130.4 points
Meanwhile, the Australian dollar is a hair’s breadth off of 80 US cents as the US dollar weakens amid fears of a government shutdown.
The local currency was trading at 79.99 US cents at 0700 AEDT on Friday, from 79.70 on Thursday.
CURRENCY SNAPSHOT AT 0700 AEDT:
One Australian dollar buys:
* 79.99 US cents, from 79.70 on Thursday
* 88.56 Japanese yen, from 88.58 yen
* 65.32 euro cents, from 65.31 euro cents
* 57.57 British pence, from 57.62 pence
* 109.42 NZ cents, from 109.27 cents
The spot price of gold in Sydney at 0700 AEDT was $US1,328.99 per fine ounce, from $US1,328.46 per fine ounce on Thursday.
BOND SNAPSHOT AT 0700 AEDT:
* CGS 4.50 per cent April 2020, 2.0754pct, unchanged
* CGS 4.75pct April 2027, 2.7670pct, from 2.7676pct
Sydney Futures Exchange prices:
* March 2018 10-year bond futures contract at 97.16 (implying a yield of 2.84pct), from 97.18 (implying a yield of 2.82pct) on Thursday
* March 2018 3-year bond futures contract at 97.725 (2.275pct), from 97.745 (2.255pct).
(*Bond market closes taken at 1630 AEDT previous local session; currency closes taken from 1700 AEDT previous local session)