Australian shares are poised to open higher, following gains in U.S. markets, led by strength in financial stocks, while energy was the only sector to close lower. ASX futures rose 0.42%, or 35 points, as of 8:00 a.m. on Tuesday, indicating a likely positive start.
In the U.S., stocks saw modest gains ahead of a busy week for tech earnings. Alphabet will report on Tuesday, followed by Microsoft and Meta Platforms on Wednesday, with Apple and Amazon scheduled for Thursday. The Dow Jones Industrial Average gained 0.7%, while both the S&P 500 and Nasdaq Composite edged up 0.3%.
In commodities, Brent crude dropped 5.2% to US$72.10 per barrel, while gold remained steady at US$2,742.42. The Australian dollar was trading at 65.80 U.S. cents, down from its previous close of 66.03.