SYDNEY: The Australian market looks set to open lower, after US stocks fell one per cent on the back of weak US economic data that showed only modest growth in consumer spending in March.
At 0657 AEST on Friday, the June share price index futures contract was down four points at 5,753.
Locally on Friday, RP Data Core releases its home Value Index for April and the Australian Industry Group’s performance of manufacturing (PMI) index for April is due out.
In Australia, the market on Thursday closed lower on reduced expectations of an interest-rate cut next week and a drop in iron ore prices.
The benchmark S&P/ASX200 was 48.6 points, or 0.83 per cent, lower at 5,790.0, while the broader All Ordinaries index was down 44.5 points, or 0.76 per cent, at 5,773.7.
