The Australian market looks set to open lower after US and European markets lost ground overnight.
At 0715 AEDT on Friday, the March share price index futures contract was down six points at 5,287.
US and European stocks were weaker as investors played it safe ahead of the release of US employment figures on early on Saturday morning, Australian time.
Investor also had a negative reaction to the European Central Bank’s pledge to act if necessary to ward off deflation or a credit crunch.
In Australia on Friday, the Housing Industry Association will release its new home sales figures for November.
On Thursday, the local share market finished almost flat as cautious investors worry about a slowdown in China following the release of lower-than-expected inflation figures..
The benchmark S&P/ASX200 index rose 8.4 points, or 0.16 per cent, at 5,324.4.
The broader All Ordinaries index added 8.8 points, or 0.17 per cent, to 5,327.5.