Australian market poised to rise as US indices surge and oil prices fall

Morning trading on the Australian Securities Exchange is likely to start in positive territory, guided by a rally on Wall Street that lifted the S&P 500 by 1.5%, the Dow Jones by 1.3% and the Nasdaq by 1.8%. ASX 200 futures rose 0.1% to 8,974 points, suggesting a gentle opening gain. The Australian dollar strengthened slightly to 70 US cents. In contrast, global oil markets saw Brent crude fall 4.8% to US$83.75 a barrel, breaking the US$84 threshold. Spot gold edged higher, and iron ore prices slipped. The combined data points provide a mixed backdrop for Australian investors as the day begins.