Aust stock set to open flat

Local shares tipped for a steady start to trading week ahead of budget release.

The Australian sharemarket looks set to open flat despite a rally in US stocks with the Dow closing its last session at a fresh record high.

At 6.45am (AEST), the June share price index futures contract was flat at 5,445.

The Dow Jones Industrial Average on Friday advanced 32.37 points, or 0.20%, to 16,583.34, 2.5 points above the previous high on April 30.

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