Australian market set to open higher

The Australian market looks set to open higher after Wall Street closed mixed as Federal Reserve policymakers began a two-day interest rate meeting and investors braced for quarterly scorecards from Apple and Twitter

At 0645 AEST on Wednesday, the share price index was up 16 points at 5,507.

Locally, in economic news on Wednesday, the Australian Bureau of Statistics releases the consumer price index for June quarter

In equities news, Fortescue Metals is expected to release its fourth quarter production review.

In Australia, the market on Tuesday closed flat with investors punting that second quarter inflation figures will prompt the Reserve Bank of Australia to cut its key interest rate next Tuesday.

The benchmark S&P/ASX200 index rose 3.9 points, or 0.07 per cent, to 5,537.5 points.

The broader All Ordinaries index gained 5.1 points, or 0.09 per cent, to 5,612.6 points.

Market Data

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