Australia shares seen positive as S&P 500 hits new high

Thu May 29, 2014 7:32pm EDT

SYDNEY, May 30 (Reuters) - Australian shares are likely to
open higher on Friday, tracking gains on Wall Street as traders
bet that economic data will show an improvement in the
second-quarter after a sluggish start to the year.
    Metals stocks may come under pressure after iron ore prices
fell to a fresh 20-month low amid a supply glut. 
    The S&P 500 index climbed to its third record closing
high in four sessions on Thursday at 1,920.03, up 0.5 percent.
    Australia private sector credit data from the central bank
will be released at 0230 GMT. 
    * Local share price index futures rose 10 points to
5,541, a 22 point premium to the underlying S&P/ASX 200 index
 close. The benchmark fell 7.7 points at close on
    * New Zealand's benchmark NZX 50 index rose 17
points to 5,191.83 in early trade.
 ----------------------MARKET SNAPSHOT @ 2310 GMT ------------
                     INSTRUMENT   LAST       PCT CHG   NET CHG
 S&P 500                          1920.03      0.54%    10.250
 USD/JPY                          101.72      -0.07%    -0.070
 10-YR US TSY YLD                 2.4697          --     0.000
 SPOT GOLD                        1255.55      0.00%    -0.050
 US CRUDE                         103.49      -0.09%    -0.090
 DOW JONES                        16698.74     0.39%     65.56
 ASIA ADRS                        145.44       0.58%      0.84
  * S&P500 sets another record closing high on growth bets  
  * U.S. crude rises as gasoline stocks draw supports      
  * Gold eases but off lows as data shows U.S. GDP shrank 
  * Copper slips but tight stocks limit losses           
    For a digest of the day's business stories in Australian 
newspapers, double click on    

 (Reporting by Pauline Askin; Editing by Richard Pullin)