Softly, softly does it

THE local market is set for a soft start, mirroring moves in the US which extended losses amid reports Germany rejected some proposals to fight the European debt crisis.

At 7.59am (AEDT) the early indicator, the SPI Futures Index was down 67 points to 4216.

Wall Street closed before the holiday down with the Dow Jones Industrial Average falling 1.63% or 198.