Market set to open lower THE Australian market looks set to open slightly lower following falls on international markets amid speculation the Federal Reserve may soon start curtailing its economic stimulus measures. At 6.45am AEDT today, the December share price index futures contract was down nine points at 5327. No major economic news is expected today, In equities news, GrainCorp and Singapore Telecommunications are expected to post full year results, James Hardie Industries first half results and Paladin Energy first quarter results. BlueScope Steel, Mirvac Group, Macquarie Radio Network, Sims Metal Management, ResMed and New Hope Corporation have annual general meetings scheduled. The Bank of Queensland has a strategy update for investors. In Australia, the market yesterday fell significantly as investors took profits and considered the possibility the Federal Reserve would soon start curtailing its economic stimulus program. The benchmark S&P/ASX200 index dropped 73.9 points, or 1.37 per cent, to 5319.2 points. The broader All Ordinaries index shed 69.3 points, or 1.29 per cent, to 5317.5 points.