Aust stocks set to open lower

Local market expected to begin softer ahead of election, slew of data.

The Australian stock market looks set to open lower after disappointing consumer spending news helped pull US stocks lower in a quiet end to the market's worst month in more than a year.

At 0645 AEST, the September share price index futures contract was down 18 points at 5,100.

In economic news, the Reserve Bank of Australia (RBA) releases the index of commodity prices for month just ended, while the Australian Bureau of Statistics (ABS) releases the business indicators for June quarter and building approvals data for July.

The Australian Industry Group performance of manufacturing (PMI) index for month just ended is due out as is the TD Securities-Melbourne Institute inflation gauge for August, the Dun and Bradstreet business expectations survey and the RP Data Rismark Home Value Index for August.

Also, expected is National Australia Bank's quarterly online retail sales index.

In Australia, the market on Friday ended higher as investor caution prompted by possible military action against Syria eased.

The benchmark S&P/ASX200 index gained 42.6 points, or 0.84%, to 5,135 points.

The broader All Ordinaries index added 42.2 points, or 0.83%, to 5,125.3.

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