Australia consumer sentiment, business confidence

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Australia consumer sentiment, business confidence

Sydney Building take from Cremorne Point.

Brook Attakorn | Moment | Getty Images

Asia-Pacific markets are set to open higher on Tuesday, tracking gains on Wall Street that saw both the S&P 500 and Nasdaq Composite reaching new highs.

Japan’s Nikkei 225 futures pointed to a stronger open for the market, with the futures contract in Chicago at 41,010 and its counterpart in Osaka at 40,950 compared to the previous close of 40,780.7.

Hong Kong Hang Seng index futures were at 17,534, higher than the HSI’s last close of 17,524.06.

Futures for Australia’s S&P/ASX 200 stood at 7,766, slightly higher than its last close of 7,763.2. Traders in Asia will also look toward Australia’s consumer sentiment and business confidence data due later in the day.

Investors are also looking forward to the upcoming release of the U.S. consumer price index on Thursday to gauge the path of the Federal Reserve’s interest rate decisions. Meanwhile, China’s inflation data on Wednesday will provide insights on the state of the country’s economic recovery.

Overnight in the U.S., the S&P 500 and Nasdaq closed at record highs. Earnings from some major financial giants and consumer companies are also on traders’ watchlists this week.

—CNBC’s Brian Evans and Pia Singh contributed to this report.

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