The Australian market looks set to open higher after Wall Street high an all-time high, surpassing a level set more than five years ago.
The Dow jumped to 14,275.96 points, a gain of 1.05 per cent that put it well past the previous intraday high of 14,198.10 set on October 11, 2007.
The broad S&P 500 index was up 1.03 per cent and the Nasdaq Composite of high-tech stocks had gained 1.21 per cent.
Locally, at 0649 AEDT on Wednesday, the March share price index futures contract was up 21 points at 5,100.
In economic news on Wednesday, the Australian Bureau of Statistics (ABS) releases national accounts data including gross domestic product for December quarter.
No major equities news is expected.
In Australia, the market on Tuesday closed higher after news that Australian retailers recorded their strongest January sales growth in six years led to gains for discretionary retail stocks.
Retail spending rose 0.9 per cent, seasonally adjusted, in January reversing three months of decline in the sector, the Australian Bureau of Statistics said.
The benchmark S&P/ASX200 index was up 64.9 points at 5075.4 points, while the broader All Ordinaries index was up 59.6 points to 5088.1 points.
