Reuters: Hot Stocks: Australia shares seen hobbled by U.S. worries, gold uptick may support

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Australia shares seen hobbled by U.S. worries, gold uptick may support Oct 3rd 2013, 23:10 SYDNEY | Thu Oct 3, 2013 7:10pm EDT SYDNEY Oct 4 (Reuters) - Australian shares are seen opening lower on Friday as investors worried that political brinkmanship in Washington could have more serious consequences for the world's largest economy, though an uptick in gold prices may help support the market. * Local share price index futures fell 0.6 percent, a 34.9-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.4 percent on Thursday. * New Zealand's benchmark NZX 50 index fell 0.3 percent in early trade. * U.S. stocks dropped on Thursday as investors worried that a budget stalemate in Congress would become entangled with much more critical legislation to raise the federal borrowing limit. * The standoff between congressional Democrats and Republicans to pass an emergency funding bill, which has led to a third day of a partial U.S. government shutdown, continued with little sign of progress toward a solution. * Copper prices fell on persistent concerns about over-supply, but losses were capped by buying on the back of a weaker dollar as U.S. government turmoil was compounded by slow service sector growth for September. * Gold rose after softer U.S. services sector data raised expectations that the Federal Reserve would delay any reduction in economic stimulus, especially with September employment data delayed by the government shutdown. ----------------------MARKET SNAPSHOT @ 2248 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1678.66 -0.9% -15.210 USD/JPY 97.22 -0.02% -0.020 10-YR US TSY YLD 2.6046 -- 0.000 SPOT GOLD 1315.58 -0.08% -1.110 US CRUDE 103.04 -0.26% -0.270 DOW JONES 14996.48 -0.90% -136.66 ASIA ADRS 146.30 -0.21% -0.31 ------------------------------------------------------------- * Wall St ends lower as shutdown continues for third day * Oil falls on U.S. government shutdown, despite storm * Gold gains on U.S. shutdown, soft service sector data * Copper pulls back as weaker dollar limits fall For a digest of the day's business stories in Australian newspapers, double click on (Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234) (Reporting by Thuy Ong; Editing by Shri Navaratnam) Link this Share this Digg this Email Reprints

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