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The Australian share market is expected to open higher following gains on Wall Street overnight.

The SPI200 futures contract was up 33 points, or 0.50 per cent, at 6,691.0 at 0800 AEST, suggesting a bounce for the benchmark S&P/ASX200 on Wednesday.

Wall Street was buoyed by positive quarterly results from Coca-Cola and United Technologies, with the Dow Jones Industrial Average finishing up 0.65 per cent, the S&P 500 was up 0.68 per cent and the tech-heavy Nasdaq Composite was up 0.58 per cent.

A Bloomberg report that US trade representative Robert Lighthizer would travel to Shanghai next week for face-to-face talks with Chinese officials also helped boost US stocks.

The Aussie dollar is buying 70.05 US cents from 70.21 US cents on Tuesday.