The Australian share market is expected to make a barely perceptible gain as trading resumes after the Christmas holiday break, amid mixed signals from Wall Street.
The futures market foreshadowed the S&P/ASX 200 index would be almost flat on opening with the March share price index (SPI) trading 19 points (0.2%) higher at 8,217 at 8.41 am AEDT (9.41 pm GMT Thursday).
In New York on Thursday (Friday AEDT), the Dow Jones Industrial Average closed 0.07% higher but the S&P 500 and Nasdaq Composite indices edged down 0.04% and 0.05% respectively in light Boxing Day activity.
In Australia the S&P/ASX 200 had ended 0.2% stronger at 8,220.9 on Tuesday in the shortened last trading day prior to Christmas, bringing the rise in the calendar year to 8.3%.
However this significantly trails the capital gains in the United States, with the Nasdaq showing an increase of 33%, the S&P 500 26% and the Dow Jones 14%, amid hopes the so-called Santa Claus rally will continue.
On the bond markets, 10-year Australian Government yields rose 0.13% to 4.451% while two-year yields dropped 0.08% to 3.895%.