Australian shares are set to open higher, after US benchmarks rise.
ASX futures were up 0.34% or 29 points as of 8:30am on Friday, suggesting a higher open.
US stocks rise in a broad rally with every S&P 500 sector ending higher. The S&P 500 marks its first record high of 2025 with gains led by health care and industrial stocks. President Trump told business leaders in Davos to make their products in the U.S. or face tariffs. GE Aerospace gains 6.6% after the jet-engine maker received an influx of orders to end the year. Electronic Arts drops 17% after lowering its full year outlook. DJIA gains 408 points, or 0.9% to 44,565, the S&P 500 adds 0.5% to 6,118 and the Nasdaq rises 0.2% to 20,053.
In commodity markets, Brent crude oil was down 1.51% to US$77.81 a barrel, while gold was down 0.12% to US$2,753.12.
The Australian dollar was at 62.83 US cents, up from its previous close of 62.73.