Australian market set to open lower

THE Australian market looks set to open lower after falls on Wall Street following a mixed batch of earnings reports.

THE Australian market looks set to open lower after falls on Wall Street following a mixed batch of earnings reports and another big decline by technology giant Apple. At 0645 AEST on Wednesday, the September share price index futures contract was down 16 points at 5,623.

Apple fell 3.2 per cent, leaving it down more than 12 per cent since its July 21 earnings release with analysts citing fears of slowing growth.

In local economic news on Wednesday, the Australian Industry Group Australian Performance of Services Index (PSI) is due out and the ANZ has its monthly interest rate review.

The CAPA Corporate Travel & Airport Innovation Summit continues in Sydney while the Financial Services Council holds its annual conference in Brisbane.

In equities news, Skilled Group is expected to post full year results.

In Australia, the market on Tuesday closed higher as biotechnology giant CSL broke through the $100 milestone and retailers surged on good sales numbers.

The benchmark S&P/ASX200 index rose 18.6 points, or 0.33 per cent, to 5,697.9 points.

The broader All Ordinaries index was up 17.6 points, or 0.31 per cent, at 5,681.9 points.