On Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) ended the week on a disappointing note. The benchmark index finished the day 0.7% lower at 5,467.6 points.
Will things be better on Monday? Here are five things to watch:
ASX closing early.
The Australian share market is open today but will close early ahead of the Christmas break. The local market will close at 14:10 Sydney time before reopening again as normal on December 27 at 10am.
ASX futures pointing lower.
The ASX 200 is expected to open the day lower on Christmas Eve. According to the latest SPI futures, the benchmark index is poised to open 0.75% or 40 points lower following another selloff on Wall Street on Friday. The Dow Jones fell 1.8%, the S&P 500 tumbled 2%, and the Nasdaq index sunk 3% lower.
Tech shares likely to come under pressure.
Afterpay Touch Group Ltd (ASX: APT) and WiseTech Global Ltd (ASX: WTC) shares could come under pressure today after tech shares were sold off on Wall Street on Friday. The FAANG stocks fell by an average of 4% after the Nasdaq fell into a bear market.
Flight Centre acquisitions.
The Flight Centre Travel Group Ltd (ASX: FLT) share price will be on watch on Monday after a late announcement on Friday revealed that the global travel agent has bolstered its exposure to the U.S. corporate travel market via the acquisition of Silicon Valley-based Casto Travel. The company also revealed that it has secured a 10-year lease on a beach-front Bali hotel to boost its in-destination Travel Experiences Network as its vertical integration strategy gains momentum.
IOOF Holdings APRA update.
The IOOF Holdings Limited (ASX: IFL) share price is likely to be on the move on Monday after the embattled financial services company provided an update on its APRA licence conditions. IOOF has agreed to licence conditions relating to its three APRA Regulated Entity subsidiaries. However, these do not include other matters that are currently before the Federal Court.
