Aust stocks set to open higher

Local market tipped to lift amid optimism on tapering, easing Syria fears.

The Australian market looks set to open higher after Wall Street made modest gains despite a mediocre retail sales report and a disappointing read on consumer sentiment.

At 0737 AEST, the September share price index futures contract was up 10 points at 5,238.

No major economic or equities news is expected.

In Australia, the market on Friday closed lower on Friday after a seven-day run of gains that had pushed share prices to five-year highs.

The benchmark S&P/ASX200 index was down 22.9 points, or 0.44%, at 5,219.6.

The broader All Ordinaries index was down 23.5 points, or 0.45%, at 5,214.7.