The Australian sharemarket is poised for more gains after good news on the trade front boosted stocks in New York.
At 9.30 am AEST (10.30 pm GMT Monday) the S&P/ASX 200 index June share price index futures contract was trading 18 points (0.23%) higher at 7,792.
The direction was set on Wall Street where investors finished in front after President Donald Trump boosted technology stocks by exempting smartphones and computers from new tariffs.
The index gains in the United States were 0.8% by the Dow Jones Industrial Average, 0.8% by the S&P 500 and 0.6% by the Nasdaq Composite, but they finished below their day’s peaks due to continued nervousness about tariffs.
"Really what we have is just continued uncertainty and inability for consumers and businesses and investors to plan much going forward or have reason to commit to long-term spending plans," Argent Capital Advisors portfolio manager Jed Ellerbroek was quoted by Reuters as saying.
The Australian sharemarket finished higher on Monday with the S&P/ASX 200 rising 1.3% to 7,748.6. ASX-listed companies to keep an eye on include Collins Foods (ASX: CKF), which has announced a strategic review and management changes.
CommSec said the Reserve Bank of Australia would publish the Minutes of its April policy setting meeting while Evolution Mining (ASX: EVN) and HUB 24 (ASX: HUB) are expected to provide quarterly updates.
