Australian market set to slightly lower

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The Australian market looks set to open slightly lower after a lacklustre performance on Wall Street overnight.

At 0841 AEDT on Tuesday, the March share price index futures contract was down six points at 5,298.

In New York, the Dow Jones Industrial Average was down 0.04 per cent to 16,463.69 at the beginning of the first full week of trade for the year.

In local economic news On Tuesday, the Australian Bureau of Statistics will release international trade figures for November.

The Australian sharemarekt on Monday lost ground in quiet trade as investors waited for direction from European and US markets.

The benchmark S&P/ASX200 index fell 25.2 points, or 0.47 per cent, at 5.324.9, while the broader All Ordinaries index lost 24.1 points, or 0.45 per cent, at 5,327.7.