Aust stocks to open higher

Local market expected to make modest gains in early trade despite US shutdown preventing release of key data.

The Australian stock market looks set to open higher following gains on Wall Street despite the US government's partial shutdown that has prevented the release of economic data.

At 0657 AEST on Monday, the December share price index futures contract was up 31 points at 5,236.

In economic news on Monday, the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for September is due out, as is the ANZ job advertisements series for the same month.

No major equities news is expected.

In Australia, the market on Friday closed lower as investors become increasingly concerned that the budget impasse in the United States may lead to the US defaulting on its debts.

The benchmark S&P/ASX200 index dropped 26.9 points, or 0.51%, to 5,208 points.

The broader All Ordinaries index lost 26.1 points, or 0.5%, to 5,205.9 points.

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