Australian shares to open higher after Wall Street gains

The news: The Australian sharemarket is poised to open higher after overnight gains on Wall Street led by energy and technology stocks, even as investors await more tariff announcements from the Trump administration.

The numbers: Updated at 7.25am AEDT:

• ASX futures: up 29 points or 0.34% at 8,463 points
• Wall Street: Dow Jones up 0.33%, S&P 500 up 0.71%, Nasdaq up 1.07%.
• Europe: FTSE 100 up 0.77%, CAC 40 up 0.42%, DAX up 0.57%
• Spot gold: up 1.48% to USD2,903.49 per ounce
• Oil prices: Brent up 1.77% to USD75.98/ barrel, US WTI up 2.01% to USD72.43/bbl
• AUD: up 0.64% at 62.79 US cents
• Bitcoin: up 0.73% to USD97,110.83.

The context: US stocks were buoyed by steel companies such as Nucor and Steel Dynamics after US President Donald Trump said he would announce 25% tariffs on steel and aluminum imports, while tech stocks including Nvidia and Broadcom reversed losses from Friday. Some analysts are concerned tariffs could rekindle US inflation pressures and remove flexibility from the Federal Reserve to cut interest rates.

What to watch: Quarterly update from Macquarie Group, and half-year results from Seven Group Holdings, appliances maker Breville, shopping centre owner Region Group, biotech giant CSL and property investment trust Charter Hall Social Infrastructure, among others.