Aust stocks set to open flat

Local market expected to begin little changed ahead of Fed Reserve meeting.

The Australian stock market looks set to open flat as investors wait for the outcome of the Federal Reserve's meeting that will decide whether the central will start tapering its stimulus measures.

At 0646 AEDT, the December share price index futures contract was up two points at 5,432.

In economic news on Tuesday, Reserve Bank of Australia Governor Glenn Stevens is slated to speak at Citi's 5th Annual Australian & New Zealand Investment Conference in Sydney.

The HIA trades report for the June quarter is due out.

In equities news, ANZ (ANZ) is expected to post full year results while Beach Energy (BPT), Drillsearch (DLS) and PanAust (PNA) are slated to release quarterly reports,

UGL Group (UGL), Stockland (SGP), NIB Holdings (NHF), Domino's Pizza (DMP) and Dexus Property (DXS) all have annual general meetings.

Meanwhile, Wesfarmers CEO Richard Goyder is scheduled to speak at an AMCHAM event in Sydney.

In Australia, the market on Monday closed at a five-year high as the major banks lifted ahead of the release of NAB and ANZ results.

The benchmark S&P/ASX200 index was 55.1 points, or 1.02%, higher at 5,441.4.

The broader All Ordinaries index was up 51.6 points, or 0.96%, at 5,437.3.

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