ASX 200 to rise; Myer buys Premier's apparel brands; BlueScope warns on profit

The sharemarket is set to open higher after gains in the US ahead of big tech earnings results and economic data. Investors also keenly awaiting local inflation data. Myer buys Premier's apparel brands for $864m with Solomon Lew scoring a board seat. BlueScope cuts earnings guidance.

The sharemarket is set to open higher following gains on Wall Street. Picture: Jeremy Piper/NCA NewsWire

The sharemarket is set to open higher following gains on Wall Street as investors await key inflation data.

The ASX 200 futures points to a 0.6 per cent rise at the open on Tuesday morning, with the Dow Jones Industrial Average ending 0.7 per cent higher at 42,387.57 points in the US. The S&P 500 rose 0.3 per cent to 5,823.52 with Nasdaq flat at 20,351.07 ahead of big tech including Alphabet's earnings results.

Investors are awaiting the release of domestic inflation data on Wednesday that will help the Reserve Bank decide when to cut interest rates. US jobs data is also due out later this week.

A few companies including CSL, Vicinity and Ansell are holding their annual shareholder meetings on Tuesday.

The Australian dollar is trading around US65.84c.

Originally published as ASX 200 to rise; Myer buys Premier's apparel brands; BlueScope warns on profit