The Australian market looks set to open higher following strong performances on Wall Street and European markets overnight following positive US economic data.
At 3.24am, the March share price index futures contract was up 39 points at 4760.
US data showed the nation's new housing starts jumped by 12 per cent in December to their highest level since 2008. For 2012 overall they soared by 28 per cent.
Also, new US jobless claims dropped last week to 335,000, the lowest level in five years.
In local economic news, the HSBC investment report is due out while Deloitte releases its Telecommunications, Media and Technology Predictions report for 2013.
No major equities news is expected.
In Australia yesterday the market closed at a fresh 19-month high despite disappointing jobs numbers while Woodside Petroleum finished flat after delivering good news on production.
At the close, the benchmark S&P/ASX200 index was 18.3 points, or 0.38 per cent higher at 4,756.6, while the broader All Ordinaries index was up 14.7 points, or 0.31 per cent, at 4779.7.It was the S&P/ASX200's highest close since it finished the local trading day at 4780.2 points on May 11, 2011.
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