Australian stocks to start lower after quiet Wall St session

The news: The Australian sharemarket is set to start lower after major US indices ended barely changed with investors cautious ahead of this week's Federal Reserve meeting.

The numbers: The Dow Jones index edged 0.02% higher, the broader S&P 500 gained 0.07% while the tech-heavy Nasdaq added 0.01%. In the local market, ASX 200 futures were trading 21 points or 0.29% lower at 7214 points at 0700 AEST on Tuesday.

The context: The Fed's policy meeting on Wednesday is expected to culminate in a rate hike pause, leaving the Fed funds target rate unchanged for the second time since March 2022. Investors are focused on clues to the trajectory of rates thereafter. In the local market too, traders will be keeping an eye on the release of minutes from the RBA's September board meeting.