Investors appear set for early losses on the share market after their US counterparts became cautious ahead of a Federal Reserve meeting.

The local SPI 200 futures contract was down by 86 points, or 1.39 per cent, to 6,098.0 at 0705 AEST on Tuesday, indicating losses in share values early.

Overnight, the S&P 500 and Dow fell as the Federal Reserve began a two-day meeting.

While no major policy announcements are expected when the US central bank wraps up on Wednesday, investors will scrutinise its remarks on the health of the economy, which has been reopening after coronavirus-related closures.

The Dow Jones Industrial Average fell 300.14 points, or 1.09 per cent, to 27,272.3, the S&P 500 lost 25.21 points, or 0.78 per cent, to 3,207.18 and the Nasdaq Composite added 29.01 points, or 0.29 per cent, to 9,953.75.

The Australian share market on Tuesday climbed for the sixth consecutive day and the S&P/ASX200 benchmark index finished up 146.2 points, or 2.44 per cent, at 6,144.9 points, while the All Ordinaries index climbed 146.4 points, or 2.39 per cent, at 6,262.9.

The Australian dollar was buying 69.62 US cents at 0705 AEST. That was higher from 69.37 US cents at the close of trade on Friday.

Source Article