The Australian stock market has received a weak lead from Wall Street where dismal earnings and economic data put an end to the recent rally.

Most base metals saw marginal gains while energy prices climbed.

At 0708 AEST on the Sydney Futures Exchange, the September share price index contract dropped four points at 4,533 points.

In economics news today, international trade in goods and services and capital cities house price indices, both for June, are scheduled to be released from the Australian Bureau of Statistics.

The Australian Industry Group and Commonwealth Bank issue their Australian Performance of Services Index for July, while the Federal Chamber of Automotive Industries declares July car sales data.

The Australian Office of Financial Management offers on auction $500 million Treasury bonds of the April 2020 line.

In companies news, AXA Asia Pacific Holdings Ltd and Hutchison Telecommunications (Australia) Ltd announce first half results. West Australian Newspapers Holdings Ltd reports annual data.

AMP starts its retirement adequacy index in Sydney.

Wesfarmers managing director Richard Goyder addresses an American Chamber of Commerce in Australia event in Perth.

The Diggers and Dealers Mining Forum in Kalgoorlie ends.

Yesterday, Australian shares recorded their strongest close in six weeks, buoyed by gains among mining stocks.

The benchmark S&P/ASX200 index finished 30 points or 0.66 per cent higher at 4,571.6 points. The broader All Ordinaries index climbed 32.1 points, or 0.7 per cent, to reach 4,586.5 points.

It was the S&P/ASX200's best close since June 22, when it ended at 4,558.4 points.