Slow start for market

THE Australian share market is tipped to start the week flat, despite a strong positive lead from Wall Street.

In the US on Friday – in a half session on the postThanksgiving holiday known as Black Friday – technology stocks led the S&P 500 and Nasdaq to record closing highs.

But locally, AMP Capital chief economist Shane Oliver said the benchmark S&P/ ASX200 is likely to gain less than five points at today’s open, with “a bit of caution around” after that index exceeded 6000 points several weeks ago. “I think there’s a bit of a correction happening after that surge,” Mr Oliver said.

The progress of tax reform in the US will continue to be the main focus for investors globally this week.