SYDNEY, Oct 6 (Reuters) - Australian stocks are set for a
lift on Tuesday as sentiment over an economic recovery gets a
boost from better U.S. data, but all eyes will be on Australia's
central bank amid talk of an interest rate rise.
The Reserve Bank of Australia (RBA) will announce its policy decision at 2:30 pm (0330 GMT) as speculation mounts it may raise interest rates by 25 basis points from a record low of 3 percent.
Some analysts have said a rate rise could hurt stocks and slow a recovery, though others have said it could be seen as a vote of confidence in the strength of the economy.
Stock index futures stood 0.9 percent higher at 4,624, a 50.7 premium to the close in the underlying S&P/ASX 200 index on Monday.
New Zealand's benchmark NZX 50 index rose 0.4 percent to 3,151.9 in early trade.
----------------------MARKET SNAPSHOT @ 2127 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1040.46 1.49% 15.250 USD/JPY 89.55 0.17% 0.150
10-YR US TSY YLD 3.2187 -
0.000 SPOT GOLD 1016.75 1.54% 15.450 US CRUDE 70.25 0.43% 0.300 DOW JONES 9599.75 1.18% 112.08 ASIA ADRS 118.98 1.72% 2.01
* Wall St rises on services data, earnings optimism
* Oil rises, US service sector data lifts markets
* Weak dollar, oil gains drive gold toward $1,020/oz
* Copper ends up on dollar drop, equities boost
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))
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The Reserve Bank of Australia (RBA) will announce its policy decision at 2:30 pm (0330 GMT) as speculation mounts it may raise interest rates by 25 basis points from a record low of 3 percent.
Some analysts have said a rate rise could hurt stocks and slow a recovery, though others have said it could be seen as a vote of confidence in the strength of the economy.
Stock index futures stood 0.9 percent higher at 4,624, a 50.7 premium to the close in the underlying S&P/ASX 200 index on Monday.
New Zealand's benchmark NZX 50 index rose 0.4 percent to 3,151.9 in early trade.
----------------------MARKET SNAPSHOT @ 2127 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1040.46 1.49% 15.250 USD/JPY 89.55 0.17% 0.150
10-YR US TSY YLD 3.2187 -
0.000 SPOT GOLD 1016.75 1.54% 15.450 US CRUDE 70.25 0.43% 0.300 DOW JONES 9599.75 1.18% 112.08 ASIA ADRS 118.98 1.72% 2.01
* Wall St rises on services data, earnings optimism
* Oil rises, US service sector data lifts markets
* Weak dollar, oil gains drive gold toward $1,020/oz
* Copper ends up on dollar drop, equities boost
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 2009. 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.