Markets Live: ASX set to open lower

On Wall St: Dow -0.8% S&P 500 -0.7% Nasdaq -0.7%

In New York, BHP -1.8% Rio -1.8%

In Europe: Stoxx 50 -1.9% FTSE -1% CAC -1.6% DAX -2%

Spot gold -0.2% to $US1210.57 an ounce at 5pm Friday New York time

Brent crude +1.2% to $US72.94 a barrel

US oil +1.5% to $US67.78 a barrel

Iron ore -1.5% to $US68.71 a tonne

Dalian iron ore -1% to 507 yuan

LME aluminium +1.3% to $US2105 a tonne

LME copper -0.5% to $US6190 a tonne

2-year yield: US 2.60% Australia 1.99%

5-year yield: US 2.74% Australia 2.19%

10-year yield: US 2.87% Australia 2.59% Germany 0.31%

US-Australia 10-year yield gap: 28 basis points

Although futures are indicating a positive open for the market today, it is difficult to imagine that a concerted move higher in the ASX is possible while commodity prices remain under pressure and fears persist about global financial stability.

While the weakness in the Turkish economy has been anything but a secret, the ECB's admission that it is concerned about the health of the region's financial system sent traders scrambling for the sell button.

Japanese equities were the first to wear the brunt of the panic, closing 1.3 per cent lower, before European and US markets followed suit, led lower by falls in financial and industrial stocks. The frenetic end to the week establishes a shaky lead for traders today, who will have to price another global financial risk into markets.

That result was slightly ahead of guidance given in May for NPAT of $230 million, which it downgrade from an earlier guidance of between $235 million to $240 million due to falling earnings at The Good Guys chain, which it bought two years ago.

Total sales across the group were $6.85 billion, in line with guidance.

JB Hi-Fi shares were up last week and last traded at $23.47.

Full article here.