The Australian sharemarket is expected to open higher on Monday, although investors are bracing for a wave of profit downgrades as companies provide cautious outlooks amid a slowing economy.
ASX futures were last up 41 points, or 0.5%.
On Wall Street, major U.S. benchmarks finished higher on Friday but posted weekly losses. The Dow Jones Industrial Average rose 1%, while the S&P 500 and Nasdaq Composite each gained 0.4%.
For the week, the Dow fell 0.9%, the S&P 500 declined 1.4% and the Nasdaq dropped 2.1%.
Locally, major retailers including JB Hi-Fi, Myer and Nick Scali have reported challenging trading conditions, while the major banks have offered a cautious outlook for the Australian property market.
Investors will turn their attention to results from the major supermarkets, Wesfarmers, Harvey Norman and Qantas this week for further clues on how the Reserve Bank of Australia's interest rate increases and higher oil prices are affecting the economy.
The Australian sharemarket finished lower on Friday as oil prices climbed and U.S. Treasury Secretary Scott Bessent's efforts to stabilise the bond market proved short-lived.
The S&P/ASX 200 Index fell 24.9 points, or 0.3%, to 9,058.9, with six of the 11 sectors ending lower. The benchmark declined 0.6% over the week.
On the bond markets, the 10-year yield fell 0.1% to 5.027%, while two-year rates rose 0.8% to 4.592%.
