The Australian share market is anticipated to open higher after Wall Street recorded improvements overnight following two sessions of significant losses.
The SPI200 futures contract was up 35 points, or 0.54 percent, at 6,498.0 at 8 am AEST, signifying an early bounce for the benchmark S&P/ASX200.
On Wall Street, the Dow Jones Industrial Average ended up 0.47 percent, the S&P 500 was up 0.80 and the tech-heavy Nasdaq Composite was up 1.12 percent.
The Australian Bureau of Statistics will publish its data on retail spending.
The Australian dollar is buying 67.44 US cents from 67.05 US cents.
Wall Street stocks mounted on Thursday after data showing US services-sector activity at a three-year low fuelled potentials that the Federal Reserve would cut interest rates to stem an expansive economic downturn.
Microsoft rose 1.2 percent and Facebook added 2.7 percent, with the two contributing more than any other companies to the S&P 500’s benefit.
The market fell after the Institute for Supply Management (ISM) said its non- manufacturing activity index fell to a reading of 52.6 in September, the lowest since August 2016.
That increased the fears sparked on Tuesday when a report showed US factory activity shrunk to its lowest level in more than a decade, as well as data on Wednesday showing private payroll growth in August was not as robust as previously projected.
Stock prices bounced back from the sour economic data as bets on a third US rate cut this year at Fed’s October policy meeting surged to 90 percent from 40 percent, according to CME Group’s Fed Watch tool.