Australian market set to open higher

THE Australian market looks set to open higher after US stocks finished mostly higher following mixed economic data.

NYSE Group President Tom Farley, center, stands among traders on the trading floor, Wednesday, Aug. 5, 2015. U.S. stocks are rising in early trading, shaking off a three-day slump, as the latest round of company earnings news brought several positive surprises. (AP Photo/Richard Drew)

THE Australian market looks set to open higher after US stocks finished mostly higher following mixed economic data, but a disappointing earnings report from Disney weighed on the Dow.

At 0645 AEST on Thursday, the September share price index futures contract was up 14 points at 5,626.

In local economic news on Thursday, the Australian Bureau of Statistics releases labour force figures for July, while the Financial Services Council’s annual conference continues in Brisbane.

In equities news, Downer EDI is expected to post full year results while Rio Tinto is slated to post half year results. Coca Cola Amatil managing director Alison Watkins is listed to speak at a QUT Business Leaders Forum, and Australia Post chief executive Ahmed Fahour is expected to speak at an Australian-Israel Chamber of Commerce lunch in Sydney.

In Australia, the market on Wednesday fell as gains by miners were more than outweighed by falls in all other sectors.

The benchmark S&P/ASX200 index was down 23.9 points, or 0.42 per cent, at 5,674 points.

The broader All Ordinaries index shed 22.4 points, or 0.39 per cent, to 5,659 points.