Local shares are poised to open slightly lower ahead of the latest RBA rate decision. The $A has edged higher.
What you need2know
SPI futures down 6 pts or 0.1% to 4996
AUD at 70.96 US cents, 95.91 Japanese yen, 65.10 Euro cents and 49.18 British pence
On Wall St, at about 2.45pm New York time, S&P -0.1%, Dow -0.2%, Nasdaq +0.1%
In Europe, Stoxx 50 -0.8%, FTSE -0.4%, CAC -0.6%, DAX -0.4%
In London, BHP +0.3%, Rio -1.1%
Spot gold +1% to $US1128.90 at 2.54pm New York time
Brent crude -4.8% to $US34.26 at 2.29pm New York time
Iron ore jumps 3.1% to $US43.02 per tonne
What's on today
Reserve Bank of Australia monthly board meeting and interest rate decision, ANZ-Roy Morgan weekly consumer confidence survey, Dun and Bradstreet business expectations survey, Navitas half year results, Bitcoin Group expected to list on the ASX. Euro zone unemployment data. US auto sales. Earnings: Dow, Exxon, Pfizer, UPS, BP, ADM, Kobe Steel, UBS, LVMH, Ferrari
Stocks in focus
BHP's rating was lowered to A from A+ to reflect changes in commodity forecasts and "very challenging market conditions and increased demand uncertainty over the coming years", S&P said in a statement overnight. Ratings for the Melbourne-based miner may be lowered one notch further after it releases earnings on February 23, S&P said.
Deutsche Bank has downgraded its recommendation from "hold" to "sell" for Newcrest Mining (ASX:NCM) and has a target price of $11.90.
The Bloomberg Dollar Spot Index fell 0.2 per cent after rising 1.6 per cent in January. The euro gained 0.5 per cent to $US1.088, even after a report showed factories in the euro area cut prices of goods by the most in a year in January. The yen held losses against the dollar, trading at 121.26 after slumping as much as 2.3 per cent on Friday to 121.69, its lowest since December 18.
The Turkish lira fell for the first time in five days, sinking 0.4 per cent. President Recep Tayyip Erdogan said Russia will "face consequences" if it doesn't respect Turkey's sovereignty, after his government reported the second Russian violation of the country's airspace in two months.
Russia's rouble weakened 1 per cent as oil declined and the South African rand dropped 1.1 per cent, while the Mexican peso slid 0.9 per cent.
US crude oil prices slid almost 7 per cent, pressured by weak economic data from China, a US forecast for mild weather and growing doubts that OPEC would act to reduce the swelling global supply glut. West Texas Intermediate (WTI) slid to its biggest daily loss in five months, down 6.9 per cent to an intraday low of $US31.29 in volatile afternoon trading. That was still 19.5 per cent higher than the more than 12-year low of $US26.19 hit in mid-January.
Exxon Mobil and BP are set to report their latest quarterly results on Tuesday.
A senior OPEC source told a Saudi Arabian newspaper it was too early to talk about an emergency meeting of the Organisation of the Petroleum Exporting Countries.
Standard & Poor's lowered its rating on Royal Dutch Shell and sees a significant likelihood of downgrades for several Europe-based integrated oil and gas majors in the next weeks.
The Standard & Poor's 500 Index retreated in afternoon trade, with US equities unable to build on the biggest rally since September. The gauge trimmed declines after Fed vice chairman Stanley Fischer said market turbulence's impact on US growth will factor into officials' March policy decision.
The Institute for Supply Management said its index of national factory activity increased 0.2 percentage point to a reading of 48.2 last month, the fourth straight month of contraction. In a separate report, the Commerce Department said consumer spending was unchanged in December after an upwardly revised 0.5 per cent increase in November. Spending on long-lasting manufactured goods such as autos dropped 0.9 per cent. Purchases of nondurable goods also declined 0.9 per cent.
Twitter shares jumped after a report in The Information said investor Marc Andreessen and private equity firm Silver Lake have "considered some sort of deal".
Yahoo chief Marissa Mayer is set to reveal cost-cutting plans that include slashing 15 per cent of its workforce, or roughly 1600 jobs, and closing several business units, the Wall Street Journal reported.
JPMorgan Chase & Co global equity strategist Mislav Matejka says technical and sentiment indicators have rebounded from extreme levels, showing that stocks are no longer in "buy" territory.
The Stoxx Europe 600 Index slid 0.2 per cent to 341.61 at the close, paring earlier declines of as much as 1.2 per cent in late trading. The gauge posted its worst January drop since 2008.
Nokia Oyj dragged a gauge of technology stocks to biggest decline of the 19 industry groups on the Stoxx 600, tumbling 11 per cent after investors were disappointed by a court decision in a patent dispute with Samsung Electronics. Alcatel-Lucent lost 12 per cent.
Ryanair Holdings gained 5.5 per cent after forecasting fourth-quarter traffic will grow more than previously expected and saying it will return €800 million to investors via a share-buyback program.
What happened yesterday
Australian shares started the month on the front foot as the Bank of Japan's decision to implement negative interest rates continued to buoy global sharemarkets. The S&P/ASX 200 lifted, 38 points, or 0.8 per cent, to 5043.6, while the All Ordinaries was up by a similar margin to 5094.3. The uplift on the ASX was broad, with three out of four stock in the top 200 recording gains.