Local investors could see the Australian market open flat for a change despite a huge surge on Wall Street due to US President Donald Trump’s economic stimulus plans.

The SPI200 futures contract was down just seven points, or 0.13 per cent, at 5275 points at 0700 AEDT on Wednesday, suggesting Australia’s volatile market might open flat.

The highly volatile local market had its best day ever on Tuesday, after its worst day ever on Monday.

Massive government stimulus plans helped lift sentiment in European and US equity markets overnight, which could spur more buying on the ASX.

Local investors are also waiting to hear about Australian measures to ease economic pain from the coronavirus.

Prime Minister Scott Morrison led a meeting of national cabinet on Tuesday evening, with a number of announcements set for mid-morning Wednesday.

He is tipped to announced more measures to limit the spread of coronavirus, including an assistance package for airlines.

The reserve bank is expected to make an announcement on Thursday.

The Aussie dollar meanwhile was buying 59.88 US cents at 0700 on Wednesday from 60.86 US cents as the market closed on Tuesday