Australian shares are set for a lower open on Thursday following a mixed session on Wall Street as traders digest the US economy's first contraction in three years in the wake of the tariff war.

On the domestic macroeconomic front, the final S&P Global Manufacturing PMI report for April will be released at 9 am Sydney time and the trade goods data for March at 11:30 am.

Overnight, the Dow Jones Industrial Average edged up 0.4%, while the S&P 500 and the Nasdaq Composite were little changed.

The US economy shrank by 0.3% in the first quarter of this year, marking its first contraction since 2022, data from the Commerce Department showed Wednesday.

In corporate news, Air New Zealand (ASX:AIZ, NZE:AIR) bared its first 2030 emissions guidance on Thursday, and said its net "well-to-wake" greenhouse gas emissions from jet fuel will be cut by 20% to 25% by 2030 from a 2019 baseline, according to a same-day filing with the Australian bourse.

Elsewhere, New Murchison Gold (ASX:NMG) appointed Derek Humphry as chief financial officer, according to a Wednesday filing with the Australian bourse.

Australia's benchmark index advanced 0.7%, or 55.60 points, to close at 8,126.20 on Wednesday.