Australian market set to open higher

THE Australian market looks set to open higher after a strong performance on Wall Street which was led higher by strong earnings from tech stocks.

FILE - In this Oct. 2, 2015 file photo, traders Edward Curran, left, and Robert Arciero work on the floor of the New York Stock Exchange. The markets have rallied since late September. Investors were relieved when the Federal Reserve held off on raising interest rates in September and many now expect rates won’t go up this year. (AP Photo/Richard Drew, File)

THE Australian market looks set to open higher after a strong performance on Wall Street which was led higher by strong earnings from tech stocks.

At 0645 AEDT on Monday, the share price index futures contract was up 55 points at 5,5378.

Locally, in economic news on Monday, the CommSec State of the States report comes out.

In equities news, Ten Network Holdings is expected to post full year results, Stockland is slated to give a first quarter update, while AusNet Services, Murray Goulburn Co-operative and Argo Investments have their annual general meetings.

Meanwhile, the Telstra Digital Summit is on in Sydney.

In Australia, the market on Friday made solid gains after the European Central Bank hinted it may take more measures to boost Europe’s stagnant economy.

The benchmark S&P/ASX200 index was up 87.8 points, or 1.67 per cent, at 5,351.6 points.

The broader All Ordinaries index was up 88.5 points, or 1.67 per cent, at 5,388.1 points.