The Australian share market looks set for a positive start on Monday despite falls on Wall Street on Friday as the US economy edges toward the so-called fiscal cliff.

At 0700 AEDT the March share price index futures contract was up 25 points at 4,617.

Trading volumes are set to be light on Christmas Eve, and the market will close early at 1430 AEDT.

Shares closed lower on Friday, with the benchmark S&P/ASX200 index dropping 10.5 points, or 0.23 per cent, to 4,623.6, and the broader All Ordinaries index dropped 11.4 points, or 0.25 per cent, to 4,635.2.