Attention on asset markets or Adelaide

Attention on asset markets or Adelaide? The ASX 200 looks set to give back all of yesterday's gains today with SPI futures pointing to a decline of 35pts on the open. As was the case in the US buying in defensive sectors such as utilities, healthcare and telecommunications, along with gold producers following a healthy bounce in the spot price overnight, look unlikely to completely offset what are expected to be further losses across the resource and energy sectors. As ever given their index weighting financials remain the wildcard with movements across this sector likely to be influential today. In a side note, given the events surrounding the Australian cricket team in recent weeks, it wouldn't surprise to see volumes and volatility drop in the lead up to the start of the first test in Adelaide. (VIEW LINK)