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The Australian share market is expected to open higher after a positive lead from Wall Street.

The SPI200 futures contract was up 19 points, or 0.30 per cent, at 6,412.0 at 0800 AEST, suggesting a rise for the benchmark S&P/ASX200 on Friday.

On Wall Street, the Dow Jones Industrial Average closed up 0.17 per cent, the S&P 500 was up 0.21 per cent and the tech-heavy Nasdaq Composite was up 0.27 per cent.

A government report overnight showed US inflation was much weaker than initially thought in the first quarter on a sharp slowdown in domestic demand, while growth was also slightly lower than estimated in April.

The Aussie dollar is buying 69.11 US cents from 69.34 US cents on Thursday.