S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) has recovered early losses to close slightly higher today.
4.11pm: ASX 200 flat
The ASX 200 has finished up 2.8 points to 5,943.7 points.
Gains in the Consumer Staples sector, +3.38%, more than offset losses in the Materials sector, -2.25%.
Investor's attention will return to what happens in the US tonight as the recent market volatility movements remain fresh in investor's minds.
[VIDEO] Market Close 21 Feb 18: Local shares did well to recover from a slow start, with the ASX 200 ending the day 2.8pts or 0.05 per cent firmer https://t.co/oSgY2T3PsZ #ausbiz
— CommSec (@CommSec) February 21, 2018
3.01pm: ASX 200 up 0.1%
The ASX 200 is up 0.1% or 5 points, currently trading at 5,945.6.
The XJO hit a high of 5,955.2 just after 2.00pm and has retraced 10 points since then.
Consumer Staples is the top performing sector today, up 2.8%, supported by good results today from Wesfarmers (ASX:WES) and a2 Milk (ASX:A2M).
12.10pm: ASX 200 flat
The ASX 200 is flat, currently trading at 5,940.0.
Investors are cheering results from A2M, up 25%, SCG, up 1.5% and WES, up 3.7%.
However, FMG, down 3.6%, STO, down 2.7% and SYD, down 1.2% have failed to satisfy the market.
[CHART] Aussie dollar jumps in response to slightly higher than forecast reading on wage growth (wages price index) for Dec quarter #ausbiz Iress pic.twitter.com/kUEU3NEncJ
— CommSec (@CommSec) February 21, 2018
10.18am: ASX 200 down 0.2%
The ASX 200 is down 8 points or 0.2% to 5,933 just after opening bell this morning.
BHP is down 4.7% as investors follow the tone that was set in the London market overnight in response to their results report.
Pre-market wrap: S&P/ASX 200 set to open lower after Dow Jones goes down 1%
Furthermore, BHP Billiton Limited (ASX:BHP) is set to drag the Australian market down today after failing to impress investors with its result yesterday after-market.
The Dow Jones (INDEXDJX:DJI) finished lower on Tuesday (last night), down 1.01% to 24,964.
VIDEO: US Close 21 Feb: DOW back below 25,000pts, gold down and Walmart off 10% https://t.co/1AseovKYYH
— CommSec (@CommSec) February 20, 2018
The AUDUSD is off 0.39% to 0.7882.
Gold continues to give back recent gains, down US$24.2 to US$1,332 and WTI Crude Oil is trading at US$61.62 per barrel.
A2M, FMG, SCG, SRX, STO, SYD and WES report today
Companies of note reporting results today include:
• A2 Milk Company Ltd (ASX:A2M);
• Fortescue Metals Group Limited (ASX:FMG);
• Scentre Group (ASX:SCG);
• Sirtex Medical Limited (ASX:SRX);
• Santos Ltd (ASX:STO);
• Sydney Airport Holdings Pty Ltd (ASX:SYD); and
• Wesfarmers Ltd (ASX:WES).
Upcoming economic data: Wages data
At 11.30am AEST, the ABS will release two market relevant data points, foremost, the quarterly Wage Price Index, a leading indicator of consumer inflation.
Secondly, the ABS will release the quarterly Construction Work Done, providing insight into the upcoming more important GDP data.
The expected numbers are 0.5% for the wage index and -9.8% for the construction work.
Tonight in the US there is flash manufacturing PMI and flash services PMI at 1.45am AEST, existing homes sales at 2.00am AEST, and meeting minutes from the most recent FOMC meeting are to be released.
The Federal Open Market Committee (FOMC) sets interest rates in the US so their meeting minutes can provide in-depth insights into the economic and financial conditions.