Thanks for stepping up, Zero. Half-time round-up: Australian...

Thanks for stepping up, Zero.


Half-time round-up:

Australian shares retreated while regional markets marked time as public holidays in China and the US and a heavy week of economic news dampened buyer interest.

At 1pm EST the ASX 200 was 31 points or 0.5% weaker at 5721, with gains in health stocks +0.8% and industrials +0.7% outweighed by declines in IT -1.3%, financials -1.2% and utilities -0.9%. The metals & mining sector shed 0.8% after spot iron ore dipped under US$60 a tonne on Friday.

Trading activity was subdued with China closed for holidays until Wednesday and Wall Street enjoying an extra day off for the Memorial Day long weekend. The week may gather momentum with US consumer confidence tomorrow night, Chinese factory data on Wednesday and US jobs updates on Thursday and Friday.

"Investors and traders may hold out for important reads on the world's largest economies this week," CMC Markets Chief Market Strategist Michael McCarthy told CNBC.

A slow morning in Asia saw Hong Kong's Hang Seng edged up 0.08% and Japan's Nikkei 0.16%. Dow futures were recently up 14 points or 0.07%.

Crude oil futures declined 13 cents or 0.26% this morning to US$49.67 a barrel. Gold futures shed $2 or 0.16% to US$1,269.40 an ounce. The dollar was buying 74.49 US cents.


Just when things couldn't get any slower, along come the public holidays to really throw on the brakes. I can't take a damn holiday - haven't earned it. Give me something to do, Mr Market. Trading: speculators in MRD and AZS - the sort of trade that often pays off in good times, doesn't in bad. Promising looking hammer forming in API from Friday.