The Australian share market’s main indicator may not achieve what its largest constituent did and hit a record high with prices expected to open little changed on Thursday.
The scene was set by a mixed night on Wall Street where investors consider the possibility the United States economy was not as strong as assumed or hoped.
While Commonwealth Bank of Australia (ASX.CBA) broke through the A$300 billion valuation barrier as it hit a record high on Wednesday, the S&P/ASX 200 index fell just short of a new high.
Futures trading has flagged a flat start on the Australian Securities Exchange (ASX) with the S&P/ASX 200 June share price index contract trading down just one point at 8,564.00 at the time of writing.
As it transpired after 45 minutes of trading, the index had surpassed the old closing high of 8,555.81 which was reached in 14 February and was up 0.24% at 8,562 points.
U.S. stocks closed mixed on Wednesday (Thursday AEST) as weak employment data revealed the negative impact of President Donald Trump's trade policies.
The Dow Jones Industrial Average dropped 0.2%, the S&P 500 ended flat and the Nasdaq Composite added 0.3%.
This undermined residual positivity on the ASX where the S&P/ASX 200 Index rose for a second successive session and closed 0.85% below its record high.
The price marker added 0.9% to 8,541.8 as nine of 11 sectors finished higher.
In economic news today, the Australian Bureau of Statistics will publish goods trade balance and household spending data, while in corporate news Downer EDI (ASX: DOW) hosts an investor day, according to CommSec.
Eyes will remain on CBA to see if it pushes on to another record high or slips back.
In the fixed interest market, the Australian Government yield curve steepened as 10-year rates rose by 0.05% to 4.211% and two-year rates lost 0.40% to 3.259%.
