Shares are set to open higher; Telstra’s chairman-elect was AMP’s former CEO; iron ore giant Fortescue Metals to report; July retail sales figures at 11:30am AEST. Follow here for more.
Australian shares are set to rise ahead of a bumper week of economic data and a big finish to reporting season, including Fortescue’s earnings today. Wall Street closed last week on a high after Jackson Hole.
Today’s data includes July retail sales, while Reserve Bank of Australia’s Michele Bullock will give a speech on Tuesday that will be parsed for interest rate hints. On Wall Street, investors have digested Jerome Powell’s Jackson Hole speech and his warning that he’s not done fighting inflation but September is still expected to be volatile. The market is “coming up on a number of key inflection points at a time when the market is still on edge given the rise in rates,” said Jack Janasiewicz, portfolio manager and lead portfolio strategist at Natixis Investment Manager Solutions.
Monday’s reporting schedule includes: Appen | Dalrymple Bay Infrastructure | Event | Fortescue Metals | Imdex | Keypath Education | Liberty Financial
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