Aust stocks set to open lower

The Australian stock market looks set to open lower despite Wall Street showing mostly small gains after the US House of Representatives approved a budget deal.

At 0645 AEDT, the December share price index futures contract was down 15 points at 5,080.

The US House or Representatives easily approved a bipartisan budget deal that would repeal some automatic spending cuts while trimming the budget deficit, and should avert another government shutdown.

The deal must win Senate approval.

Locally, in economic news on Monday, the latest DBM Consultants' Business Financial Services Monitor is released.

In equities news, Aurizon has an investor briefing.

In Australia, the market on Friday broke a six-day losing streak as bargain hunters picked up the banking and mining stocks that had fallen in value the past week.

But shares still posted their fourth straight weekly fall.

The benchmark S&P/ASX200 index was up 35.9 points, or 0.71%, at 5,098.4.

The broader All Ordinaries index was up 32.3 points, or 0.64%, at 5,101.5.