Aust stocks open stronger

Local market pushes 0.65% higher in early trade following gains on Wall St last week.

The Australian stock market looks set to open higher following gains on Wall Street despite disappointing US jobs data.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index gained 0.66% to 5,200.6 points, while the broader All Ordinaries index increased 0.64% to 5,217.7.

The US Labor Department said the economy added 113,000 jobs in January, far below the 175,000 forecast.

Analysts said there were some positive aspects to the report, such as the rise in labour force participation.

No major local economic or equities news is expected on Monday.

In Australia, the market on Friday ended with a second straight gain after the central bank lifted its forecasts for economic growth.

The benchmark S&P/ASX200 index gained 35.1 points, or 0.68%, to 5,166.5.

The broader All Ordinaries index added 37.1 points, or 0.72%, to 5,184.5.

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