Aust stocks to open higher

Local market tipped for strong start despite uneasy session on global bourses.

The Australian stock market looks set to open higher after an uneasy night on international markets amid nervousness over the looming United States debt ceiling deadline.

At 0646 AEDT, the December share price index futures contract was up 42 points at 5,249.

In economic news on Tuesday, the Reserve Bank of Australia is due to release the minutes of its October board meeting.

Meanwhile, the Australian Bureau of Statistics releases August lending finance and September new motor vehicle sales data.

In equities news, Rio Tinto (RIO) is slated to release its third quarter operations review while Telstra (TLS) and Cochlear (COH) have annual general meetings scheduled.

In Australia, the market on Monday fell, weighed down by investor nervousness as the deadline approaches to resolve the US political deadlock over the debt ceiling.

The benchmark S&P/ASX200 index was down 23 points, or 0.44%, at 5,207.9.

The broader All Ordinaries index was down 22.3 points, or 0.43%, at 5,206.5.

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