ASX set to start the week lower

The Australian share market is expected to open lower, after metals prices, and US and European stocks suffered falls in trading at the end of last week.

Wall Street: Wall Street's three major benchmarks slumped into the weekend even with mostly very solid corporate earnings so far this season, tracking at a 20 per cent year-over-year increase. 

ASX: The ASX is set to follow Wall Street lower. Futures are pointing to a 15-point drop at the open.It is a shortened trading week this week due to the Anzac Day public holiday.

Royal commission: The Hayne royal commission continues on today with AMP back in the spotlight. The company's share price was savaged last week, dropping around 20 per cent while open Friday, chief executive Craig Meller announced his resignation with immediate effect.

CPI: The surge in commodity prices has renewed the debate about the outlook for inflation and Australia's all-important consumer price index report for the first quarter, set to be released on Tuesday, is the key data point this week.

Commodities: Also likely to dent sentiment as the week begins is a retracing of recent advances in aluminium, copper, nickel and iron ore.

US: Reporting this week are Facebook, Alphabet, Amazon, Microsoft as well as Twitter. Apple, which saw its shares drop last week on concerns that global smartphone sales have perhaps peaked – according to the International Monetary Fund, reports on May 1. The iPhone maker's shares tumbled 7 per cent over the final three days of last week.