The Australian market looks set to open lower after the major US indexes notched their worst day in about a month as economic data spawned concern about growth.

The SPI is down 35 points to 5465.

Locally, in economic news, the Australian Bureau of Statistics releases the selected living cost indexes for June quarter.

In equities news, Rio Tinto is expected to post half-year results while Seven Group Holdings is slated to release full-year results.

Key Numbers

• The SPI is down 35 points to 5465
• AUD +0.9% to 76.03 US cents (it touched 76.38 in early New York trade)
• On Wall St, Dow -0.5%, S&P 500 -0.6%, Nasdaq -0.9%
• In Europe, Stoxx 50 -2%, FTSE -0.7%, CAC -1.8%, DAX -1.8%
• Spot gold +0.9% to $US1365.36 an ounce
• Brent crude -1% to $US41.72 a barrel
• Iron ore -0.5% to $US61.94 per tonne

What’s on today

Rio Tinto half-year results