Investing.com - Australian shares are set to open higher on Tuesday, following an extended rally in New York where blue-chip tech stocks, Tesla Inc (NASDAQ:TSLA) and Apple Inc (NASDAQ:AAPL), made significant gains, while GameStop Corp (NYSE:GME) tumbled.
ASX 200 Futures suggest an increase of 0.1% at the opening bell, ahead of the Reserve Bank's closely watched interest rate decision at 2.30pm AEST.
On Wall Street, the S&P 500 saw a 0.8% rise, reaching 5473.23. The NASDAQ Composite, known for its tech-heavy composition, added 1% to 17,857.02. This was driven by a 5.3% rally in Tesla and a 2% gain in Apple.
Locally, investors are keenly awaiting the RBA interest rate decision at 2.30pm AEST, followed by a press conference at 3.30pm. The central bank is widely expected to maintain the current rate.
In bond markets, the Australia 10-Year and 2-year yields were at 4.191% and 3.962%, respectively.