The Australian sharemarket is expected to shrug off a poor start to the week by opening higher on Tuesday after a mixed night on Wall Street.
The S&P/ASX 200 index should start the day up by about 0.1% with the December contract of the index trading 10 points over the prior settlement at 9,017, at the time of writing.
This would be more than sufficient to recoup the six points of losses of the previous day when the benchmark started sinking after reaching a new high.
In New York, the S&P 500 and the Nasdaq Composite indices rose on Monday after AMD announced a chip supply agreement and investment from OpenAI, but the Dow Jones Industrial Average ended lower.
The Dow dropped 0.1% while the S&P 500 gained 0.4% and the technology-focussed Nasdaq rose 0.7%.
Dakota Wealth Senior Portfolio Manager Robert Pavlik said the strength in technology and consumer discretionary stocks was “flying in the face” of the continuing United States Government shutdown.
"The market is still interested in the AI trade and the companies that support and use it," Pavlik was quoted in a Reuters story as saying.
"It's a wave and waves don't go on forever; it will eventually crest and decline. But where are we this cycle of the wave? It's impossible to know."
The Australian market closed lower on Monday after an early session sell-off that began soon after the benchmark index hit a record, with the S&P/ASX 200 losing 0.17% to 8,977.20.
In Australia today, consumer confidence and job advertisements data are scheduled to be published, while shares of Reece (ASX: REH) trade ex-dividend.
In fixed interest markets, the Australian Government bond yield curve flattened as two-year rates rose 0.48% to 3.541% and 10-year rates fell 0.09% to 4.396%.
