Aust stocks set to open lower

Local market expected to being week lower following downbeat Wall Street lead.

The Australian sharemarket looks set to open lower after Wall Street tumbled more than 2.5% despite solid jobs data.

At 6.45 (AEST) the June share price index futures contract was down 41 points at 5,381.

The US Department of Labor reported the US economy added 192,000 jobs in March, essentially meeting expectations and suggesting a continuation of the trend of slow but steady improvement in the labour market.

Locally, in economic news, the Australian Bureau of Statistics (ABS) releases February's overseas arrivals and departures figures and the ANZ releases its job advertisements series for March.

The Australian Industry Group/Housing Industry Association performance of construction index (PCI), also for March, is also due out.

Meanwhile, the APPEA oil and gas conference continues for the second of its four-day run. West Australian Premier Colin Barnett, Woodside chairman Michael Chaney, Woodside vice president Rob Cole, and Chevron Australia managing director Roy Krzywosinski are slated to speak.

No major equities news is expected.

In Australia, the market on Friday closed slightly higher ahead of the release of US job numbers.

The benchmark S&P/ASX200 index gained 12.9 points, or 0.24%, to 5,422.8 points.

The broader All Ordinaries index also added 12.9 points, or also 0.24%, at 5,428.6 points.

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