SYDNEY, Dec 8 (Reuters) - Australian stocks are expected to
firm on Monday, driven by a lift in U.S. shares as investors bet
a steep drop in oil prices will boost consumer spending.
However, the tone is still likely to be cautious after investors in the U.S. got a reminder of the gloomy outlook facing the economy from Friday's data showing 533,000 jobs were lost in November, the biggest drop in 34 years.
Shares in Australian miners may underperform as commodity prices took a beating on Friday. Copper, aluminium and lead slipped on fears of poor demand amid the financial crisis.
The Australian December share price index (SPI) futures rose 52 points, or 1.5 percent, to 3,575, a 85.1 point premium to the underlying S&P/ASX 200 index. The benchmark index lost 6.8 percent last week.
New Zealand's benchmark NZX 50 index was up 1.2 percent in early trade.
----------------------MARKET SNAPSHOT @ 2105 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 876.07 3.65% 30.850 USD/JPY 92.73 0.59% 0.540
10-YR US TSY YLD 2.714 -
0.000 SPOT GOLD 754.6 0.00% 0.000 US CRUDE 41.74 -4.42% -1.930 DOW JONES 8635.42 3.09% 259.18 ASIA ADRS 83.16 2.86% 2.31
* Cheaper oil boosts consumer stocks and indexes rally
* Oil drops 6 pct to 4-year low on bleak US job data
* Gold slides, ends tad above $750 on job data
* Copper slips under $3,000 after US job data shocks
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))
DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................ Access to some items may depend on subscription level. ................................................................ UP-TO-THE-MINUTE HEADLINES Company results Economic indicators Mergers & acquisitions Interest rates LIVE PRICES & DATA World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt HOW TO FIND INFORMATION YOU NEED | | | | | || | | | LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Australian dollar LME price overview Keywords: MARKETS AUSTRALIA STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
However, the tone is still likely to be cautious after investors in the U.S. got a reminder of the gloomy outlook facing the economy from Friday's data showing 533,000 jobs were lost in November, the biggest drop in 34 years.
Shares in Australian miners may underperform as commodity prices took a beating on Friday. Copper, aluminium and lead slipped on fears of poor demand amid the financial crisis.
The Australian December share price index (SPI) futures rose 52 points, or 1.5 percent, to 3,575, a 85.1 point premium to the underlying S&P/ASX 200 index. The benchmark index lost 6.8 percent last week.
New Zealand's benchmark NZX 50 index was up 1.2 percent in early trade.
----------------------MARKET SNAPSHOT @ 2105 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 876.07 3.65% 30.850 USD/JPY 92.73 0.59% 0.540
10-YR US TSY YLD 2.714 -
0.000 SPOT GOLD 754.6 0.00% 0.000 US CRUDE 41.74 -4.42% -1.930 DOW JONES 8635.42 3.09% 259.18 ASIA ADRS 83.16 2.86% 2.31
* Cheaper oil boosts consumer stocks and indexes rally
* Oil drops 6 pct to 4-year low on bleak US job data
* Gold slides, ends tad above $750 on job data
* Copper slips under $3,000 after US job data shocks
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))
DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................ Access to some items may depend on subscription level. ................................................................ UP-TO-THE-MINUTE HEADLINES Company results Economic indicators Mergers & acquisitions Interest rates LIVE PRICES & DATA World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt HOW TO FIND INFORMATION YOU NEED | | | | | || | | | LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Australian dollar LME price overview Keywords: MARKETS AUSTRALIA STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News, please visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.