July 4 (Reuters) - Australian shares are expected to edge up on Thursday, tracking sharp gains on Wall Street as recent data from multiple sectors pointed to slowing economic growth, bolstering the prospect of a rate cut by the U.S. Federal Reserve.
The local share price index futures YAPcm1 rose 0.3% or 22 points, a 40.5-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark advanced 0.5% on Wednesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat in early trade.