Australian shares are set to open lower with US stocks falling on Friday.

ASX futures were down 0.6% of 47 points suggesting a lower opening.

US shares fell on Friday after momentum faded after a strong open and repeated all time highs.

The DJIA gained was lower 0.18 %, the S&P 500 dropped 0.65% and the Nasdaq dropped 1.16%.

In commodity markets, Brent crude oil was down 0.26% to US$81.30 a barrel, while gold was higher to to US$2,194.63.

In local bond markets, the yield on Australian 2 Year government bonds was flat at 3.741% while the 10 Year yield was also down to 3.99%. US Treasury notes were down, with the 2 Year yield at 4.482% and the 10 Year yield down at 4.077%.

The Australian dollar was flat at 66 US cents.


Chinese shares were higher on Friday with Shanghai closing up 0.61%, Shenzhen rising 1.10% and Hong Kong up 0.76%.

In Tokyo the NIKKEI closed flat.


Europe closed the week mixed with the FTSE in London down 0.43%, the German DAX falling 0.16% and Paris rising 0.15%.

North America

The US reversal on Friday has market strategists wondering if the rally is losing steam.