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The Australian share market is on for some profit taking after gaining 1.1% over the last two days.

Over on Wall Street, the Dow, S&P 500 and Nasdaq all closed up higher about 0.2% each.

We saw US Consumer confidence fall below expectations in November to a reading of 125.5, marking a dip on confidence for the fourth straight month.

In terms of fresh economic news – RBA Governor Lowe gave a speech last night on ‘unconventional’ policy. The outcome: government bonds won’t be bought any time soon and interest rates were not likely to go to zero as Australia’s growth prospects are stronger and the Australian banking system is in much better shape.

What to watch today: Oil Search (OSH), Woodside Petroleum (WPL), Fisher & Paykel (FPH), Collins Food (CKF), Harvey Norman (HVN) and Mesoblast (MSB).