Australian market set to open higher

THE Australian market looks set to open higher, after the Nasdaq index on Wall Street bolted to a fresh record peak.

THE Australian market looks set to open higher, after the Nasdaq index on Wall Street bolted to a fresh record peak.

At 0646 AEST on Thursday, the June share price index futures contract was up 10 points at 5,750.

The tech-rich Nasdaq Composite Index jumped 73.84 points (1.47 per cent) to 5,106.59, almost 15 points above the prior record set April 24.

Locally on Thursday, the Australian Bureau of Statistics releases business investment figures for the March quarter.

And in equities news, US-focused oil and gas producer Sundance Energy has its annual general meeting in Adelaide.

In Australia, the market on Wednesday closed lower in a broad sell-off after enjoying four straight sessions of gains.

The benchmark S&P/ASX200 index was down 48.1 points, or 0.83 per cent, at 5,725.3 points.

The broader All Ordinaries index was down 46.2 points, or 0.8 per cent, at 5,724.2 points.