Australian shares set to rise after Wall Street gains

The news: The Australian sharemarket is poised to open higher after overnight gains on Wall Street as investors cheered updates from Meta and Tesla.

The numbers: Updated at 7:25am AEDT:

• ASX futures: up 65 points or 0.77% at 8,525 points
• Wall Street: Dow Jones up 0.63%, S&P 500 up 0.70%, Nasdaq up 0.49%
• Europe: FTSE 100 up 1.04%, CAC 40 up 0.88%, DAX up 0.41%
• Spot gold: up 1.30% to USD2,795.15 per ounce
• Oil prices: Brent up 0.48% to USD76.95/barrel, US WTI up 0.36% to USD72.88/bbl
• AUD: down 0.3% at 62.13 US cents
• Bitcoin: up 1.56% to USD105,398.10

The context: US stocks rose, led by gains for Tesla after CEO Elon Musk vowed to launch long-awaited cheaper models in the first half of 2025 and start testing an autonomous ride-hailing service in June. Meta shares also gained after the company beat Wall Street's fourth-quarter revenue estimates. However, Microsoft tumbled after forecasting disappointing growth in its cloud computing business. Results from Apple and Intel are due after the closing bell.

What to watch: Quarterly reports from Origin Energy, ResMed, Dubber, and Sayona Mining among others.