The Australian market looks set to open lower after Wall Street fell with the DJIA suffering its worst day since February as feeble quarterly reports undermined confidence across the consumer sector.

The SPI was down 32 points, at 5327.

The biggest drag on the Dow was Disney, which dropped 4.04 per cent after it posted a rare earnings miss.

Locally, in economic news, Reserve Bank of Australia Assistant Governor (Financial System) Malcolm Edey is slated to speak at the Cards and Payments Australia conference in Melbourne. In equities news, Myer is expected to release third quarter results and Optus fourth quarter figures.

AMP and Westfield Corporation have their annual general meetings.

And, Shark Mitigation Systems is due to make its debut on the ASX.

Key Numbers

• The SPI was down 32 points, at 5327.
• Results from Disney and Macy’s reminded investors that further equity gains remain vulnerable to stumbling corporate profits.
• AUD at 73.78 US cents, 79.99 Japanese yen, 64.56 Euro cents and 51.07 British pence
• On Wall St, Dow -1.2%, S&P 500 -1%, Nasdaq -1%
• In Europe, Stoxx 50 -0.8%, FTSE flat, CAC -0.5%, DAX -0.7%
• In London, BHP +2.7%, Rio +1.5%
• Spot gold +0.8% to $US1275.78 ounce at 1.57pm New York time
• Brent crude +4.2% to $US47.42 barrel at 1.32pm New York time
• Iron ore +0.6% to $US55.57 tonne

What’s on today

Local data: None, NZ first quarter retail sales

Bank of England officials will probably leave their key rate at a record-low 0.5 per cent as Britain’s referendum on its European Union membership clouds the nation’s economic outlook. The decision, forecasts and vote split will be published at noon in London, followed by a press conference by governor Mark Carney. Noon in London.

Fed speakers: Boston’s Eric Rosengren in Concord, NH. Esther George in Albuquerque, NM. Cleveland’s Loretta Mester in Germany.

World Gold Council will publish a report on first-quarter global demand at midnight in New York – The Arab Economic Forum opens in Beirut. This year topics include the challenges facing regional economies from political instability, economic contraction and the global decline in oil prices.

Overseas data: Japan current account March; UK RICS housing price index April, Euro industrial output March; US weekly jobless claims, US import price index April

Earnings: Symantec, PetroBras, Nvidia, Enbridge, Banco de Brasil, Zurich Insurance Group, RWE, Credit Agricole, Aegon, Skanska, Perigo, Rheinmetal

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