Australian stocks set to rise after Wall St ends higher

The news: The Australian sharemarket is set to start on a positive note after improved investor sentiment helped the major US indices advance overnight.

The numbers: The Dow Jones index rose 0.62%, the broader S&P 500 climbed 0.63% while the tech-heavy Nasdaq added 0.84%. In the local market, ASX 200 futures were trading up 25 points or 0.35% at 7137 points at 0700 AEST on Tuesday.

The context: Less hawkish than expected comments from US Federal Reserve Chair Jay Powell last Friday helped investors stay bullish in the US markets, with traders now awaiting key inflation and jobs data later this week to gauge the path for interest rates. A speech by Deputy RBA Governor Michelle Bullock late on Tuesday could offer clues to our own interest rate path, while investors will also watch the tail end of results season with earnings from companies including Adbri, Mineral Resources and Star Entertainment Group among others.