Commonwealth Bank of Australia will set the tone for the local sharemarket this earnings season with its result set to give investors a key insight as to how the broader economic recovery is tracking.
CBA will report its first-half figures on Wednesday and the strength of its earnings and dividend could support market sentiment for the rest of the month.
“CBA will set the tone given it has such a big read through on the whole economy,” Atlas Funds Management chief investment officer Hugh Dive said.
“Analysts have quite a range of outcomes for the dividend but if CBA comes out of the higher range, it will definitely help sentiment. It will boost the whole season.”
ASX futures were up 5 points, or 0.1 per cent, ahead of the market open on Monday, after Wall Street closed higher on Friday, stringing together its first five-day winning streak since August, buoyed by optimism over earnings and stimulus talks.
Read more in the Australian Financial Review.