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The Australian market will open amid a plethora of domestic corporate financial results, following mostly flat leads from overnight US equities trade.
In overnight commodities trade, US gold futures turned to settle a little higher. Oil swung lower. Copper also settled lower. Iron ore sat steady.
The $A approached US76.70c, after climbing beyond ~US76.55c yesterday evening.
Locally today, ABS June housing finance figures and a monthly consumer report from Westpac and the Melbourne Institute are due.
July financing statistics are expected out of China anytime from today.
Japan’s markets will be closed tomorrow due to a public holiday.
Major European equities markets trade proved far more decisive overnight than that for key US indices.
US June quarter productivity fell 0.5% annually, representing a third consecutive quarterly pullback and defying forecasts of a 0.5% improvement.
June wholesale inventories also surprised, rising 0.3% against an initial flat estimate. Further, May’s 0.1% gain was doubled in revision.
UK June quarter industrial output was reported 2.1% higher, supported by a 2.3% rise in April. A £5.1B June trade deficit represented a £0.9B deterioration for the month.
Germany’s June trade surplus was estimated at €24.9B from €21.0B in May.
Tonight in the US, weekly mortgage applications are due, together with a job opportunities report and monthly budget statement.
Companies scheduled to report earnings include: Prudential, G4S, Michael Kors, Ralph Lauren, Wendy’s, Shake Shack, E.ON Adecco, Korea Gas and San Miguel Corp.
Overnight, a Gap July sales report appeared to alarm, hurting retail sector sentiment.
Valeant Pharmaceuticals was propelled more than 20% higher however, seemingly on restructuring plans, announced in conjunction with an increased quarterly loss and slower sales.
UK bookmaker William Hill reportedly knocked back a £3.6B consortium bid.
Walt Disney reported post-US trade and appeared to exceed expectations.