5min read
PREVIOUS ARTICLE Oil eases, focus shifts to US ... NEXT ARTICLE Gold fizzles on waning US-Iran...

Early gains are expected on the Australian share market after US stocks hit record highs overnight amid optimism about a US-China trade deal.

The SPI200 futures contract was up 14 points, or 0.21 per cent, to 6829.0 points at 0800 AEDT on Thursday after Chinese government officials said they intended to sign a Phase 1 trade agreement with the US in Washington next week.

Apple and other Wall Street heavyweights posted strong gains.

The Dow Jones Industrial Average rose 191.74 points, or 0.67 per cent, to 28,936.83, the S&P 500 gained 18.21 points, or 0.56 per cent, to 3,271.26 and the Nasdaq Composite added 61.75 points, or 0.68 per cent, to 9,190.99.

Easing tensions between Iran and the US, following attacks from each country in the Middle East, also helped Wall Street share prices.

The Australian market hit a record closing high on Thursday.

The benchmark S&P/ASX200 index closed on Thursday up 56.6 points, or 0.83 per cent, to 6,874.2 points.

The close eclipsed the previous record closing high of 6,864 set on November 28.

The Australian dollar is buying 68.56 US cents, down from 69.74 at Thursday’s close.