Australian shares will open up today, with ASX 200 futures pointing to a +0.14% gain for the local bourse. Whether that holds, however, remains to be seen, considering how wildly things have moved intraday in Week 34.
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Plenty could send shares either way too, just like in the U.S., where the S&P and Dow Jones dived red before each pared losses to end basically flat.
For Wall Street, the nervousness comes as we count down to Jerome Powell’s key speech at Jackson Hole on Friday (Saturday Aus) and what it may bring for traders.
Back home, it’s been earnings that have governed the bourse: Report misses from CSL Ltd (ASX:CSL) and James Hardie (ASX:JHX) were among the company updates that sent Australian shares swinging yesterday.
(We’ll be covering all this in the HotCopper Wire podcast today, too.)
Companies to watch
More comes today too, including from Super Retail Group (ASX:SUL), which recorded an -8% profit slide under a “tough trading environment.”
And Heartland Group (NZX:HBL) took the other side; it made $38.8M in profits, mostly thanks to higher lending margins in Australia and New Zealand. The lender met guidance, but saw a 54.3% jump in impairments, too.
Also coming today – Brambles (ASX:BXB), Charter Hall (ASX:CHC), Goodman Group (ASX:GMG), Domain (ASX:DHG), and Insignia Financial (ASX:IFL).
Alongside the annual reports, Xero (ASX:XRO) is hosting its annual investor meeting.
Buck and ore
In forex, the flagging Aussie dollar buys 64.3 US cents.
To commodities, all in the greenback,
Iron Ore has held nearly flat, selling at $101 a tonne in Singapore,
Brent Crude is at $67,
Gold pared losses at $3,353 per ounce, and,
US natgas futures are down, selling at $2.75 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck and happy trading.
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