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The Australian share market is expected to open in positive territory after stocks on Wall Street hit new highs overnight.

The SPI200 futures contract was up 22 points, or 0.33 per cent, at 6,645.0 at 0800 AEST, suggesting an early bounce for the benchmark S&P/ASX200 on Thursday.

All three major Wall Street indices finished at record highs, with the Dow Jones Industrial Average closing up 0.67 per cent, the S&P 500 up 0.77 per cent and the tech-heavy Nasdaq Composite up 0.75 per cent.

The Aussie dollar is buying 70.34 US cents from 69.94 US cents on Wednesday.