Aust stocks set for soft open

Local market expected to begin week slightly lower as the US braces for a disruptive budget, debt showdown.

The Australian stock market looks set to open lower after Wall Street gave up much of the gains made on the Federal Reserve's no-taper decision to finish lower at its last session.

A building showdown in Washington over the United States budget and debt ceiling, which threatens to shut down the government at the end of the month, also cast a shadow on Wall Street trade.

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