Australian shares are set to open slightly higher on Friday after a strong result from Nvidia lifted Wall Street and renewed investor confidence in the artificial intelligence-driven technology rally.
ASX 200 futures were up 16 points, or 0.2%, at 9,004.
During United States trade on Thursday, the Dow Jones Industrial Average rose 0.2%, while the S&P 500 gained 0.7% and the Nasdaq Composite advanced 1.6%.
Nvidia shares jumped 7.5% after the chipmaker's strong forecast met lofty investor expectations.
"While Nvidia’s earnings beat and strong guidance restarted the party, it's apparent that not all sectors of the market were invited," Charlie Ripley, senior investment strategist at Allianz Investment Management, was quoted as saying in a Reuters story.
"Market headwinds continue to be a factor as higher interest rates, geopolitical tensions and global trade, among other things, are playing a role in the weakness seen across other sectors."
The Australian sharemarket fell on Thursday as investors digested a fresh batch of local corporate results.
The S&P/ASX 200 Index fell 89.6 points, or 1%, to 9,038.2, with nine of the 11 sectors ending lower.
Investor attention now turns to U.S. Federal Reserve Chair Kevin Warsh's first Jackson Hole address on Friday, with markets looking for clues on the central bank's stance following the latest inflation data and amid efforts by the US Treasury to tame bond yields.
On the bond markets, 10-year and two-year Treasury yields were each up 0.1% at 5.089% and 4.709%, respectively.
