Australian market set to open lower

THE Australian market looks set to open lower following falls on Wall Street where a morning rally fizzled and Apple shares dropped.

Trader Dermott Clancy, left, works on the floor of the New York Stock Exchange, Wednesday, Sept. 9, 2015. U.S. stocks are opening solidly higher as investors take their cue from big gains in Asia and Europe. (AP Photo/Richard Drew)

THE Australian market looks set to open lower following falls on Wall Street where a morning rally fizzled and Apple shares dropped after unveiling a suite of upgraded products.

At 0645 AEST on Thursday, the September share price index futures contract was down 84 points at 5,231.

Locally, in economic news on Thursday, the Australian Bureau of Statistics releases August labour force data or August In equities news, Sigma Pharmaceuticals is expected to post full year results.

In Australia, the market on Wednesday rose for the second straight session, helped by strong gains in overseas markets and a rally in banking stocks.

The benchmark S&P/ASX200 index was up 105.9 points, or 2.07 per cent, at 5,221.1 points.

The broader All Ordinaries index was up 103.4 points, or 2.01 per cent, at 5,236.9 points.