It’s the Labor Day long weekend this weekend in the US, so no Wall Street on Monday. We thus have an interesting scenario given last night’s sell-off.
The first tip-over that signals a crash about to happen almost always occurs on a Friday, and then the real damage is done on the Monday. But Wall Street has tipped over on a Thursday, and after tonight has three days off. Traders often square up on a Friday so as not to risk whatever might transpire over the weekend.
Just saying. And we have US August non-farm payrolls tonight to make it even more interesting.
Next week is otherwise a quiet one economically in the US, with inflation numbers late in the week the only highlight.
China reports August trade data on Monday and inflation on Wednesday.
The ECB holds a policy meeting on Thursday.
Locally we’ll see ANZ job ads, NAB business confidence and Westpac consumer confidence, along with July housing finance.
Just as we wrap up the August result season, the out-of-cycle season kicks off next week with reports from Myer ((MYR)) on Monday and Sigma Healthcare ((SIG)) on Thursday.
And we are now into full swing for the ex-dividend season, through to the end of the month.
