Aust stocks open weaker

The local market has pulled back from yesterday's five year highs in early trading.

The Australian stock market opened slightly lower, pulling back from yesterday's five-year highs after the United States Federal Reserve's surprise decision to maintain its stimulus program.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index fell 0.21 per cent to 5,284.2 points, while the broader All Ordinaries index lost 0.22 per cent to 5,277.2 points.

Wall Street, which had also rallied on the decision, fell back overnight.

In economic news, business spending bounced in August, according to the latest Commonwealth Bank Business Sales Indicator.

In equities news, Sydney Airport released its latest traffic report.

The market yesterday hit a five year high after the US central bank decided to continue its stimulus program.

The benchmark S&P/ASX200 index added 57.4 points, or 1.1 per cent, to 5,295.5 and the broader All Ordinaries index gained 58.2 points, or 1.1 per cent, to 5,288.6.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles