US sharemarkets closed higher on Monday, with the S&P 500 rising 0.44% to close at 6,611.83, while the Nasdaq Composite gained 0.54%. The Dow Jones Industrial Average added 165 points, or 0.36%, to finish at 46,669.88.
Futures were little changed overnight, with S&P 500 and Nasdaq 100 contracts marginally higher and Dow futures up 108 points.
Markets moved higher during the session as reports indicated ongoing discussions between the United States and Iran, with potential ceasefire terms under consideration.
Oil prices remained elevated, though they pared earlier gains after briefly moving above US$110 a barrel during the session.
Australian Market Outlook
Australian shares are set to open modestly higher, tracking gains on Wall Street. S&P/ASX 200 futures were up 5 points, or 0.1%, to 8,614.
Locally, S&P Global will release its March PMI Composite at 9am AEST. February household spending and ANZ job advertisements are due at 11.30am.
Overseas, inflation data will be in focus, including March CPI updates from the US and China, alongside US PCE inflation data. In New Zealand, the Reserve Bank is scheduled to meet on Wednesday.
