Reuters: Hot Stocks: Australia shares may tread water before employment data

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Australia shares may tread water before employment data Mar 13th 2013, 22:19 Tweet Share this Email Print Related Topics Cyclical Consumer Goods » Wed Mar 13, 2013 6:19pm EDT SYDNEY, March 14 (Reuters) - Australian shares may lack momentum early on Thursday, caught between another record for U.S. stocks and weaker commodities prices that could hurt miners, with investors waiting on local employment data for further direction. * Stock index futures shed 2 points to 5,097.0, but were still at a 4.6 point premium to the underlying S&P/ASX 200 index. The benchmark fell 0.5 percent on Wednesday. * New Zealand's benchmark NZX 50 index rose 0.4 percent to 4,357.9 in early trade. * The Dow Jones industrial average rose for the ninth straight session to another record, buoyed by surprisingly strong retail sales that suggested the economy is gaining momentum. * Copper slipped as a stronger dollar weighed on prices for the base metals complex, although falls in aluminium and zinc were capped as China's plans to buy the metals for strategic stocks underpinned the outlook for demand. * Australian jobs data for February is due at 0030 GMT. The unemployment rate is forecast to rise a notch to 5.5 percent despite employment rising by 9,000, a Reuters poll shows. * Department store Myer Holdings Ltd will announce its H1 results. ----------------------MARKET SNAPSHOT @ 2158 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1554.52 0.13% 2.040 USD/JPY 96.06 -0.03% -0.030 10-YR US TSY YLD 2.0226 -- 0.003 SPOT GOLD 1586.89 -0.03% -0.400 US CRUDE 92.52 0.00% 0.000 DOW JONES 14455.28 0.04% 5.22 ASIA ADRS 137.27 -0.15% -0.21 ------------------------------------------------------------- * Dow at record again, ends higher for 9th day * Brent crude falls on rising inventories, strong dlr * Gold falls on optimism over US economic improvement * Copper dips on strong dlr,China tenders limit falls For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Maggie Lu Yueyang; Editing by John Mair) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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