Australian market set to open flat

The Australian market looks set for a flat open after a sluggish lead from Wall Street.

At 0656 AEST on Wednesday, the June share price index futures contract was up three points at 5,623.

US stocks finished mixed in a choppy session following disappointing Walmart earnings and a pullback in many petroleum stocks.

Locally on Wednesday, Reserve Bank deputy governor Philip Lowe participates in a panel discussion at The Future of International Governance and the G20 conference, and the Westpac/Melbourne Institute consumer confidence survey is due out.

In Australia, the market on Wednesday finished lower for a second straight day despite getting a brief lift on indications that the Reserve Bank is open to more interest rate cuts.

The benchmark S&P/ASX200 index was down 43.7 points, or 0.77 per cent, at 5,615.5 points.

The broader All Ordinaries index was down 40.6 points, or 0.72 per cent, at 5,619.4 points.

Market Data

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