The Australian market is in for a flat start today with the ASX futures up only 0.1 per cent.
That’s after markets were roiled last week by tensions, everything from trade issues between the US and China, legislators bringing in new laws for tech companies following the testimony of Facebook CEO and Founder Mark Zuckerberg to the Senate to the US firing missiles on Syria.
In Australia, the S&P/ASX 200 index closed 13.6 points firmer at 5829.1 on Friday, for a 0.7 per cent advance over the week.
Globally markets turned cautious at the end of a volatile week with the S&P 500 on Wall Street closing 0.3 per cent lower at 2656, but up 2 per cent for the week as a whole. The Dow Jones Industrial Average fell 0.5 per cent on Friday while the Nasdaq Composite lost 0.5 per cent.
The Euro Stoxx 600 index across the Atlantic edged up 0.1 per cent. In Frankfurt, the Dax rose 0.2 per cent and the FTSE 100 in London closed 0.1 per cent firmer. Japan’s Topix index firmed 0.6 per cent and the Hang Seng index in Hong Kong finished 0.1 per cent lower.
Australian investors this week will be keeping an eye out for the minutes from the Reserve Bank of Australia’s last board meeting this month where it opted again to keep interest rates on hold at 1.5 per cent. While the minutes are unlikely to tell investors anything about interest rates, they might provide some commentary on trade tensions, market volatility, and funding costs.
The Australian Bureau of Statistics will be releasing the latest unemployment figures on Thursday.
Investors will also be watching out for the Bank of Queensland posting its results.
That’s in addition to BHP, Rio Tinto and Santos will be posting their first quarter production results.
And there will be more tales of banks’ dodgy behaviour with the resumption of the Hayne Royal Commission into banking and financial services.