WATCH: Australian Dollar Reaches One-Month High: ASX to open higher
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US stock market futures climbed as Donald Trump was sworn in for a second term as president, with investors optimistic that a series of immediate actions from him would boost the economy, particularly in sectors like banking and energy.
Although regular trading on the New York Stock Exchange and Nasdaq was closed for the Martin Luther King Day holiday, limited futures trading continued.
Dow Jones Industrial Average futures rose 167 points, or 0.4%. S&P 500 futures increased by 0.4%, while Nasdaq-100 futures gained 0.4%.
The US dollar has fallen significantly against a basket of currencies, boosting the Australian dollar to 62.74 US cents. Oil prices dropped 1.1 percent to 79.91 US dollars per barrel, while Bitcoin fell to 103,635 US dollars.
Looking at the local market, the SPI futures are pointing to 0.34 per cent rise.
In company news, Optus is reportedly considering offloading its sports streaming platform to Nine Entertainment, potentially impacting the sports broadcasting landscape.
In economic news, weekly consumer confidence data is due out today.
Quarterly trading and production updates will be posted today from various resources companies including BHP, Liontown Resources, Northern Star Resources, Yancoal and HUB24.
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Source: Finance News Network
