The ASX200 is set to rise 0.76%, buoyed by stronger performances in US stocks overnight.
The US market saw a rebound on Monday, influenced by a strong rally in tech shares after a difficult week. The S&P 500 increased 1.1%, the Nasdaq 100 rose 1.5% and the Dow Jones gained 127 points.
Investors were focused on the news that President Joe Biden has stepped down from his campaign and given the nod to Vice President Kamala Harris to take his place.
The ASX will see a new float today: mining and exploration company Axel Ree Ltd (ASX:AXL), which will be looking for rare earth elements (REEs) in Brazil.
Spartan Resources Ltd (ASX:SPR) has provided an update to its mineral resource estimate (MRE) for the Dalgaranga Gold Project in Western Australia, registering a 47% increase in ounces and a 91% increase in grade.
Meanwhile, Transurban Group (ASX:TCL) announced its partnership with the Queensland Government to further develop plans for widening the western section of the Logan Motorway.
This motorway is a key transport corridor across southeast Queensland, supporting the movement of freight worth more than $350 billion each year.
And Askari Metals Ltd (ASX:AS2) has secured a funding package of A$850,000, which will go towards pursuing its Tanzanian uranium investment strategy – following its recent acquisition of Matemanga Uranium Project – and reinforce its African-focused clean energy mandate.
In forex, the Aussie is buying just under 67 US cents.
In commodities, brent crude fell half a percent to US$82.20, while iron ore was down 0.26% to US$108.45 per tonne at Singapore.
Gold rose 0.06% to US$2,396 per ounce while US natgas futures registered a rise of just under five percent to US$2.23 per gigajoule.