Australian share prices are expected to rise when the market opens on Tuesday.
The S&P/ASX 200 Index should start about 0.5% above the previous close when trading resumes on the Australian Securities Exchange (ASX) at 10 am AEDT (11 pm Monday GMT).
This estimate is based on ASX futures trading with the S&P/ASX 200 December share price index contract, quoted 47 points over the previous settlement at 9,089 at the time of writing.
The catalyst for the firmer start is higher stock prices in New York, where the three major indices finished up due mainly to higher finance and technology shares.
The Dow Jones Industrial Average and S&P 500 each rose 1.1% and the Nasdaq Composite put on 1.4% after positive quarterly profit earnings cheered investors worried about regional bank loans.
"It's a good, solid, across-the-board move, there's not a lot of negative in the market," Murphy & Sylvest Senior Wealth Advisor & Market Strategist Paul Nolte was quoted in a Reuters article as saying.
"There’s some relief from the financials ... investors are looking at it as maybe a bit of an overreaction on the downside last week. As far as the market’s concerned, everything is wonderful again."
The Australian equities benchmark had added 0.41% to 9,031.90 on Monday as nine of the eleven sectors finished in the black.
In the news today Reserve Bank (RBA) Assistant Governor Brad Jones participates in a panel discussion while BHP (ASX: BHP), South32 (ASX: S32) and HUB24 (ASX: HUB) provide updates.
The Australian Government bond yield curve dropped as two-year rates dipped 0.21% to 3.327% and 10-year rates lost 0.02% to 4.135%, at the time of writing.
