Market jump on cards

STRONG leads from international markets are expected to send Australian shares into positive territory when trade resumes today.

AMP Capital chief economist Shane Oliver says the benchmark S & P/ASX200 is likely to gain at least 20 points at the open, after better-thanexpected jobs figures buoyed US stocks on Friday and eurozone shares closed 0.6 per cent higher.

The payroll report in the US, which showed jobs rose by 228,000 in November, helped push the benchmark S & P 500 up by 0.55 per cent.

“We’re seeing a continued goldilocks pattern of data which is not too hot and not too cold,” Dr Oliver said.

This week, investors will be keeping a keen eye on the US Federal Reserve’s meetings tomorrow and Wednesday, from which the Fed is expected to deliver a quarter per cent rate hike at about 6am on Thursday by Sydney time.

Dr Oliver said people would also be keen to know if the Fed plans to lift rates four times instead of three in 2018, which could dampen the market.

Closer to home, the Australian Bureau of Statistics will release employment data for November on Thursday, which is expected to show 19,000 jobs were added and the unemployment rate remained at 5.4 per cent.

The ABS will also release home prices for the September quarter and lending finance figures for October tomorrow.

The NAB business survey for November comes out tomorrow and consumer confidence data for December via Westpac and the Melbourne Institute is out on Wednesday.