SYDNEY, Oct 28 (Reuters) - Australian stocks are set for a soft start on Wednesday following a negative lead from Wall Street, with lower oil and iron ore prices likely to keep natural resources and energy sectors under pressure.
Shares in National Australia Bank NAB.AX will be closely watched after the bank said cash earnings rose 15.5 percent to A$5.8 billion. urn:newsml:reuters.com:*:nWNBS01IVA
Also on the radar is inflation data due out at 11.30 a.m., (0030 GMT). ECONAU Price pressures are expected to have been benign, giving the central bank room to cut interest rates further if needed.
The local stock index futures YAPcm1 dipped 0.4 percent to 5,325.0, a 21.2-point discount to the close of the underlying S&P/ASX 200 index .AXJO on Tuesday.
The benchmark index closed a tad softer in the last session.
New Zealand's benchmark NZX 50 index .NZ50 was steady in early trade, having set a record high of 6,014.48 on Tuesday.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB