Nov 29 (Reuters) - Australian shares are likely to start Tuesday's session cautiously, as U.S. stocks snapped recent gains following president-elect Donald Trump's victory, while gold and oil stocks are expected to provide some support.
U.S. stocks fell modestly on Monday, weighed down by declines in the financial and consumer discretionary sectors, as some investors booked profits on the heels of a record-setting week. The three major U.S. indexes had closed higher for the third week in a row on Friday. .N
Gold prices rose more than 1 percent, recovering from their lowest levels since February as the dollar and long-dated U.S. Treasury bond yields retreated from recent highs. GOL/
Oil prices gained more than 2 percent in volatile trading, recouping early losses, ahead of an OPEC meeting later in the week that could reap production cuts. O/R
The local share price index futures YAPcm1 fell 0.1 percent, or 5 points, to 5,467, a 2.6-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark ended 0.79 percent down on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell marginally in early trade.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB