Aust stocks set to open higher

Local market tipped to begin stronger following gains on Wall Street last week.

The Australian sharemarket looks set to open higher after solid gains on Wall Street with the Dow Jones Industrial Average reaching a fresh high at the end of last week.

At 6.45am (AEST), the September share price index futures contract was up 10 points at 5,390.

The Dow on Friday rose 25.62 points to 16,947.08.

Locally, no major economic or equities news is expected on Monday.

Meanwhile, Wesfarmers chief executive Richard Goyder is slated to speak at The West Australian's Leadership Matters lunch in Perth.

In Australia, the market on Friday gave up most of the previous day's gains to end the week on a negative tone.

The market ignored solid offshore leads, provided by the US Federal Reserve suggesting it would keep interest rates low.

The benchmark S&P/ASX200 index dropped 48.7 points, or 0.89%, to 5,419.5.

The broader All Ordinaries index shed 44.8 points, or 0.82%, to 5,401.6.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles