Shares on the Australian market are poised to slip in early trade after US investors ended a string of days of consecutive days. The SPI 200 futures contract was down 14 points, or 0.23 per cent, to 5,986.0 at 0716 AEST on Friday, indicating losses early. In the US overnight, a report showed that the number of workers filing for unemployment benefits eased for a ninth straight week, roughly in line with the market’s expectations. Yet economists saw pockets of disappointment after the total number of people getting benefits rose slightly. That number had dropped the prior week, which had raised hopes that some companies were rehiring workers. The S&P 500 lost 10.52 points, or 0.3 per cent, to 3,112.35 after being on track earlier in the day for its longest winning streak since December. The Dow Jones Industrial Average rose 11.93 points, or less than 0.1 per cent, to 26,281.82, and the Nasdaq composite fell 67.10, or 0.7 per cent, to 9,615.81. The S&P/ASX200 benchmark index hit a peak of 6,040.2 before retreating somewhat to finish Thursday up 50.2 points, or 0.84 per cent, at 5,991.8 points.
The All Ordinaries index rose 47.1 points, or 0.78 per cent, at 6,112.
One Australian dollar was buying 69.43 US cents at 0716 AEST, up from 68.90 US cents at the close of trade on Thursday.