Investing.com - Australian shares are set to rise at Tuesday's open, tracking positive sentiment from New York overnight as US stocks extended their winning streak to eight sessions amidst rising expectations that the Federal Reserve will cut interest rates next month.
ASX 200 Futures were last trading 0.8% higher.
At the US close, the S&P 500 increased by 1% to 5608.25, marking a 4.3% rise over the last five sessions. the NASDAQ Composite added 1.4% and the Dow Jones Industrial Average lifted 0.6%.
Attention is now turning to Federal Reserve Chairman Jerome Powell, who is scheduled to speak at the central bank’s key annual gathering in Jackson Hole, Wyoming later this week. Powell’s speech is set for Saturday morning (AEST).
Several companies are poised to report on Tuesday, including Deterra Royalties Ltd (ASX:DRR), Ansell Ltd (ASX:ANN), Baby Bunting Group Ltd (ASX:BBN), Dexus (ASX:DXS), ARB Corporation Ltd (ASX:ARB), Hub24 Ltd (ASX:HUB), Judo Capital Holdings Ltd (ASX:JDO), Reliance Worldwide Corporation Ltd (ASX:RWC), Sims Metal Management Ltd (ASX:SGM), and Monadelphous Group Ltd (ASX:MND).
In the bond markets, the Australia 10-Year and 2-year rates were at 3.96% and 3.65%, respectively.