Australian shares are heading into Monday morning trade at a -0.31% loss, with ASX 200 futures tipping a 30-point drop; a value slice most likely spurred on by traders now consolidating slightly post-earnings.
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Through a volatile reporting season, the Oz bourse managed to climb high enough that it hit all-time records several times; now investors may be on the defensive heading into September and end-of-year.
Wall Street’s sluggish start to Week 36 – it starts a day late, thanks to Labour Day – also means some may be waiting to see how the U.S. leads.
Every chance we flirt with 9,000 all over again through W36; plenty to come.
ASX stocks to watch
To that tune, already a bit on: NAB (ASX:NAB) was crowned “most preferred” among the Big Four on Friday – and traders may look to back the red-themed lender.
Elsewhere, eyes will be on once-steady blue-chips CSL Ltd (ASX:CSL) and James Hardie (ASX:JHX) after their “once-in-a-generation” nosedives; earnings season wasn’t kind to either after their report misses.
And, Paul Washer is leaving Synlait Milk (ASX:SM1) and will not stand for re-election.
Over in stats, July building approvals are coming at lunchtime today.
Then, GDP figures come on Wednesday.
Buck and ore
Now – in forex, the Aussie dollar buys 65.4 US cents.
And to commodities, all in the greenback,
Iron Ore is down +0.4%, selling at $103.70 a tonne in Singapore,
Brent Crude is at $67.40,
Gold starts the week up, selling at $3,451 per ounce, and,
US natgas futures are down -1% on Monday, selling at $2.98 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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