The ASX 200 is set to rise today despite a mixed day on Wall St and weakness in commodity prices as markets await key US jobs data tonight.

The ASX tumbled on opening, following Wall St down as signs of economic weakness here and in the US restoked fears of a hard landing.

The ASX 200 opened down this morning while Wall St takes a break for Labor Day celebrations. Iron ore producers will likely pull the ASX down today as prices slump.

The ASX is set to slip today as commodity prices fell over the weekend. Iron ore and oil both finished August down over five percent amidst demand concerns from China.

The ASX opened higher as the final day of reporting has seen Downer and TPG shares rise, while Ramsay and TPG lead the losses on the major benchmark.

The ASX looks to fall this morning as traders await the monthly CPI data and absorb several key earnings reports out this morning. Gold touches fresh all time high again this week.