SYDNEY, Nov 2 (Reuters) - Australian stocks are set to fall
on Monday after renewed fears over the strength of an economic
recovery sent Wall Street to its worst fall since July at the end
of last week.
Stock prices in major markets have risen in recent weeks on hopes of a strong recovery, but recent data in the United States has raised concerns that the gains may not be backed up by economic fundamentals.
Stock index futures stood 118 points lower at 4,506, a 137.2 point discount to the 4,643.2 point close in the underlying S&P/ASX 200 index on Friday.
Resources stocks will be among the falls on Monday as the recovery concerns hit metals and oil prices, while banks are set to follow their U.S. counterparts lower.
Among economic news on Monday, the government will release its mid-financial year review of the Australian economy.
New Zealand's benchmark NZX 50 index fell 1.2 percent to 3,177.2 in early trade.
----------------------MARKET SNAPSHOT @ 2103 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1036.19 -2.81% -29.920 USD/JPY 89.64 -1.48% -1.350
10-YR US TSY YLD 3.3884 -
0.000 SPOT GOLD 1044.4 0.02% 0.200 US CRUDE 76.99 -3.61% -2.880 DOW JONES 9712.73 -2.51% -249.85 ASIA ADRS 118.89 -3.33% -4.10
* Wall St tumbles on recovery jitters, financials
* Oil falls more than 3 percent on economic woes
* Gold drops amid sharp equities sell-off
* Copper ends lower as data spurs recovery concerns
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.
Stock prices in major markets have risen in recent weeks on hopes of a strong recovery, but recent data in the United States has raised concerns that the gains may not be backed up by economic fundamentals.
Stock index futures stood 118 points lower at 4,506, a 137.2 point discount to the 4,643.2 point close in the underlying S&P/ASX 200 index on Friday.
Resources stocks will be among the falls on Monday as the recovery concerns hit metals and oil prices, while banks are set to follow their U.S. counterparts lower.
Among economic news on Monday, the government will release its mid-financial year review of the Australian economy.
New Zealand's benchmark NZX 50 index fell 1.2 percent to 3,177.2 in early trade.
----------------------MARKET SNAPSHOT @ 2103 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1036.19 -2.81% -29.920 USD/JPY 89.64 -1.48% -1.350
10-YR US TSY YLD 3.3884 -
0.000 SPOT GOLD 1044.4 0.02% 0.200 US CRUDE 76.99 -3.61% -2.880 DOW JONES 9712.73 -2.51% -249.85 ASIA ADRS 118.89 -3.33% -4.10
* Wall St tumbles on recovery jitters, financials
* Oil falls more than 3 percent on economic woes
* Gold drops amid sharp equities sell-off
* Copper ends lower as data spurs recovery concerns
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.