Oct 24 - Australian shares are set to open little changed on Wednesday after U.S. stocks fell overnight on earnings outlook worries before investors snapped up beaten-down shares in late trading.
The local share price index futures YAPcm1 was flat, a 28-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 1.1 percent down on Tuesday.
Energy stocks are likely to be under pressure as oil prices plunged about 5 percent to two-month lows on worries about demand growth and after Saudi Arabia said it could supply more crude quickly if needed. Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent in early trade.