Aust stocks set to open higher

Local market tipped to begin stronger after optimistic start to US reporting season.

The Australian sharemarket is expected to open higher as investors prepare for a deluge of profit news from the United States.

American investors are heading into the start of the US reporting season in an optimistic mood, with the Dow Jones ending last week on a high note.

This week's US earnings calendar includes reports from banking giants including JPMorgan Chase and Goldman Sachs, as well as Johnson & Johnson, Yahoo, Intel, IBM and General Electric.

At 6.30am (AEST) on Monday, the September share price index futures contract was UP 12 points at 5,466.

In local economic news on Monday, the Australian Bureau of Statistics will release lending finance and credit card data for May.

Shareholders in department store chain David Jones will also meet in Sydney to vote on a proposed $2.2 billion takeover by South African retailer Woolworths.

In Australia on Friday, the benchmark S&P/ASX200 index was 22.4 points, or 0.41%, higher at 5,486.8.

The broader All Ordinaries index was up 20.3 points, or 0.37%, at 5,474.6.

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