Aust stocks set to open stronger

Local market tipped to extend 5-year high as offshore bourses post strong sessions.

The Australian stock market looks set to open higher after gains on most international markets overnight with traders cautious despite a possible deal aimed at preventing a US-led military attack on Syria.

At 0645 AEST, the September share price index futures contract was up 16 points at 5,247.

In economic news, the Australia Bureau of Statistics (ABS) releases labour force data for August.

In equities news, Myer (MYR) Holdings posts full year results and Sigma Pharmaceuticals (SIP) posts first half results.

Meanwhile, Caltex Australia (CTX) chief executive Julian Segal is scheduled to speak at an American Chamber of Commerce in Australia function in Sydney.

In Australia, the market on Wednesday hit a five-year high as investors are inspired by China's economic growth.

Positive economic data out of China, strong Australian consumer sentiment and the likelihood of a non-violent outcome in Syria all contributed to a fourth straight day of gains.

The benchmark S&P/ASX200 index was up 33.2 points, or 0.64%, to 5,234.4.

The broader All Ordinaries index gained 31.7 points, or 0.61%, to 5,230.6.

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