The Australian share market is expected to open higher on Friday, spurred by new records on Wall Street.
Futures trading on the Australian Securities Exchange indicated the market is set for a second successive day of rising prices if the anticipated start is any guide.
The S&P/ASX 200 share price index (SPI) September contract trading was quoted 27 points above the previous settlement at 8,600, at the time of writing.
This followed a stronger night in New York where two of the key indices, the S&P 500 and Nasdaq Composite, finished at new highs, buoyed by a bullish forecast from Delta Air Lines and a record close by NVIDIA.
The S&P 500 rose 0.27%, the Nasdaq added 0.09% to 20,630.67 and the Dow Jones Industrial Average put on or 0.43% to 44,650.64 despite States President Donald Trump announcing more tariffs.
Janney Montgomery Scott Chief Investment Strategist Mark Luschini said investors were reassured by the Delta update and "pretty tame" jobless claims and "increasingly desensitised" to the potential threat of tariffs to inflation and unemployment.
"At the moment, investors are looking through or not accounting for that threat and won't likely until hard evidence presents itself," Luschini was quoted in a Reuters story as saying.
The Australian share market had closed higher on Thursday with the S&P/ASX 200 ending up 0.59% at 8,589.20 with six of the 11 sectors finishing in the black, leaving it 0.58% below its record peak.
Based on commodity markets, gold miners could rise and oil companies could fall today following the prices of their underlying commodities moving in those directions overnight.
In the Australian fixed interest market, 10-year Australian Government bond rates rose 0.12% to 4.316% while two-year rates fell 0.82% to 3.386%.
