The Aussie share market is poised for a modest recovery after the US market rebounded despite ongoing conflict between the United States and Iran.
The SPI200 futures contract was up 30 points, or 0.45 per cent, at 6703.0 at 0800 AEDT, seemingly replicating the mood of US investors and hinting at an early rise for the benchmark ASX/200.
US stocks rose overnight as investors brushed aside worries about rising tensions in the Middle East, and as shares of tech giants Amazon and Alphabet gained.
The S&P 500 energy index rose along with oil prices after the recent US air strike that killed Iran’s top military commander, raising the threat of war in the Middle East.
On the Aussie market, gold is tipped to again be in demand.
The gold price reached a six-month high of $US1,575 an ounce when the local market closed on Monday – and hit its highest level against the Australian dollar.
The ASX closed up 2.2 points, or 0.03 per cent, at 6,735.7 in the first session of the week.
The Australian dollar was buying 69.40 US cents, up from 69.38 US cents at Monday’s close.