Aust stocks to open lower

The Australian stock market looks set to open lower after US stocks closed on a negative note following a mixed batch of economic data and a big jump in bond yields.

At 0645 AEST, the September share price index futures contract was down seven points at 5,064.

In economic news, the Australian Bureau of Statistics (ABS) is due to release new motor vehicle sales for July.

In equities news, BlueScope Steel (BSL), Amcor (AMC), Aurizon (AZJ), The Reject Shop (TRS), Federation Centres (FDC), Challenger Financial (CGF), Dexus Property Group (DXS), and Bendigo and Adelaide Bank (BEN) are all expected to post full year results.

In Australia, the market on Friday finished weaker as profit taking hit the big banks and resource companies.

The benchmark S&P/ASX200 index was 38.5 points, or 0.75% lower, at 5,113.9 points.

The broader All Ordinaries index was down 36.6 points, or 0.71%, to 5,100.1 points.