The Australian share market is likely to start the week flat, as strength in the resources sector offsets negative leads from the US and European markets.
CommSec chief economist Craig James says the share prices futures index is pointing to a small drop of only about four points at Monday's open, with the resources sector buoyed by rises in prices of commodities such as oil and gold.
"It looks like the commodity producers are going to hold up fairly well," he said.
In the US, the Dow Jones industrial average shed 100.12 points on Friday, or 0.4 per cent, while the S&P 500 fell 3.45 points, or 0.1 per cent, across the week.
The passage of a tax reform bill in the US, which last week passed the House of Representatives, will continue to hold markets' attention in the week ahead.
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Mr James says the question now is whether the bill can get through the Senate. The overhaul is expected to provide a stronger base for growth if it it does.
"Everyone's sort of waiting at the edge of their seats for that to happen," he said.
Back home, investors will be looking out for anything new when the Reserve Bank of Australia releases the minutes from its November monetary policy meeting on Tuesday.
RBA Governor Philip Lowe will also speak at an Australian Business Economists event that day.
The Australian Bureau of Statistics will release its figures on construction work in the September quarter on Wednesday, with economists expecting a 2.3 per cent fall after a strong lift in the June quarter.
The Australian share market closed higher on Friday, with the benchmark S&P/ASX200 index up 0.23 per cent to 5,957.3 points.
The Australian dollar was trading at 75.70 US cents.
