The Australian market is set for a strong start to trade with encouraging jobs figures in the United States helping Wall Street post its longest winning streak in more than 16 years.

At 0650 AEDT on Friday, the March share price index futures contract was up 20 points at 5,050.

For the day ahead, there is no economic data scheduled for release.

The market on Thursday closed lower as better than expected jobs data dented the chance of more interest rate cuts.

The S&P/ASX200 index lost 60.2 points, or 1.2 per cent, to 5,032.2 and the All Ordinaries dropped 60.6 points, also 1.2 per cent, to 5,043.8.