The Australian market looks set to open lower after Wall Street mainly fell as investors digested the latest round of company earnings, and a drop in oil prices weighed on the energy sector.
At 0700 AEST on Thursday, the share price futures index was down 13 points, or 0.22 per cent, at 5,784.
The Dow Jones Industrial Average fell 0.58 per cent and the S&P 500 lost 0.17 per cent, dragged down by the likes of IBM, which sank 4.9 per cent after the company reported a bigger-than-expected decline in revenue for the first time in five quarters.
The US' energy sector slumped 1.4 per cent for its fifth drop in six sessions as oil prices settled nearly 3.5 per cent lower.
Locally, no major economic news is expected on Thursday, but the Commonwealth Bank's Sales Indicator shows that economy-wide spending recorded its strongest growth in 15 months in the lead-up to Easter.
The BSI rose 0.6 per cent in trend terms in March, above the long-term average monthly rate of 0.2 per cent, and strongest monthly increase since December 2015.
But the report suggests there's several factors that could slow spending in the coming months.
In equities news, Woodside Petroleum, Rio Tinto and Evolution Mining are expected to release quarterly production reports while Australian Pharmaceutical Industries is slated to release half-year results.
The Australian market on Wednesday fell for a third straight session, pulled back by weakness in the financial and energy sectors as geopolitical concerns continue to weigh on investor sentiment..
The benchmark S&P/ASX200 index lost 32.7 points, or 0.56 per cent, to 5,804 points.
The broader All Ordinaries index fell 28.8 points, or 0.49 per cent, to 5,839.9 points.
Meanwhile, the Australian dollar is lower against its US counterpart which has recovered its losses from the previous session.
The local currency was trading at 74.98 US cents at 0700 AEST on Thursday, from 75.17 on Wednesday.
CURRENCY SNAPSHOT AT 0700 AEST:
One Australian dollar buys:
* 74.98 US cents, from 75.17 on Wednesday
* 81.61 Japanese yen, from 81.72 yen
* 69.98 euro cents, from 70.10 cents
* 58.66 British pence, from 58.61 pence
* 107.05 New Zealand cents, from 106.98 NZ cents
BOND SNAPSHOT AT 0700 AEST:
* CGS 5.25 per cent March 2019, 1.615pct, unchanged
* CGS 4.25pct April 2026, 2.404pct, from 2.405pct
Sydney Futures Exchange prices:
* March 2017 10-year bond futures contract at 97.46 (implying a yield of 2.54pct), from 97.52 (2.48pct) on Wednesday
* March 2017 3-year bond futures contract at 98.19 (1.81pct), from 98.23 (1.77pct).
(*Currency closes taken at 1700 AEST previous local session, bond market closes taken at 1630 AEST previous local session)