The Australian sharemarket is lower mid-session in quiet trading as a result of the Labour Day public holiday in several states.
At 9.45am, the benchmark S&P/ASX200 index was down 20.1 points, or 0.4 per cent, at 5187.9 points while the broader All Ordinaries index was down 19 points, or 0.4 per cent, at 5186.9 points.
Australian Stock Report senior equity analyst Benny Sada said the market had "done nothing" in early morning trading.
"Volumes are very low today - it's a Labour Day holiday in some of the states," he said.
Mr Sada said the market may have traded higher given a positive lead from Wall Street on Friday night, had comments from a key US Republican on Sunday over the US budget impasse not dampened sentiment.
US Speaker John Boehner on Sunday adamantly ruled out a House vote on a straightforward bill to boost the government's borrowing authority without concessions from President Barack Obama.
If Democrats and Republicans do not resolve their differences on the debt ceiling by October 17, the US government could default on its debt.
On the local bourse at 9.05am, in the resources sector, global miner BHP Billiton was off six cents at $35.07, while Rio Tinto had nudged up one cent to $60.48.
Among the major banks, ANZ was up seven cents at $30.83, while Westpac had dipped one cent to $32.41, Commonwealth Bank had lost 50 cents to $71.26, and National Australia Bank had eased 16 cents to $34.65.
Blood products and vaccines supplier CSL was 58 cents weaker at $64.46 after it said it expects that settlement of an antitrust class action in the US will reduce its fiscal 2014 net profit by $US39 million ($A41.47 million).The Labour Day holiday is in NSW, Queensland, South Australia and the ACT.