Wall Street’s S&P 500 on track for best November ever, Australian shares to open flat

Australian shares are expected to open flat, after the ASX 200 wrapped up November with its strongest monthly performance ever.

ASX futures were down 4 points to 6,525 by 6:40am AEDT.

The Australian dollar had slipped (-0.5pc) to 73.5 US cents.

In local economic news, the Reserve Bank will unveil its policy statement in the afternoon.

There is almost no chance of the RBA slashing interest rates today, given its last rate cut was only a month ago.

There was a weak lead from US markets overnight.

US markets fell heavily as investors took profits after an exceptionally strong month — driven by COVID vaccine euphoria and hopes for a quick economic rebound.

On Wall Street, the Dow Jones index dropped 381 points (-1.3pc) to 29,529 by 2:55pm local…