(Australian Associated Press)

The Australian market looks set to open sharply higher after Wall Street surged and the S&P 500 had its biggest one-day lift in percentage terms in about two months.

At 0700 AEST on Thursday, the share price futures index was up 40 points, or 0.7 per cent, at 5,736.

In the US, tech and financial stocks led a broad market rebound with the Nasdaq posting its best session since November 7, the day before the presidential election.

And, the benchmark S&P bounced after suffering its biggest one-day drop in about six weeks on Tuesday after a healthcare bill was delayed in the Senate.

The Dow Jones Industrial Average rose 0.68 per cent, the S&P 500 gained 0.88 per cent and the Nasdaq Composite added 1.43 per cent.

Locally, in economic news on Thursday, the Australian Bureau of Statistics releases May’s job vacancies figures.

The Australian Industry Group/Australian Constructors Association Construction Outlook survey is expected.

In equities news, Rio Tinto shareholders are set to vote on the mining giant’s proposed sale of Coal & Allied to Yancoal, while cloud-based human resources software company ELMO is slated to list on the ASX.

The Australian market on Wednesday overcame a sluggish start to close higher, as a rally in iron ore and oil prices boosted mining and energy stocks.

The benchmark S&P/ASX200 index rose 41.5 points, or 0.73 per cent, to 5,755.7 points.

The broader All Ordinaries index gained 43.6 points, or 0.76 per cent, to 5,696 points.

Meanwhile, the Australian dollar has jumped against its US counterpart, as iron ore and oil prices surge and the US dollar falls.

The local currency was trading at 76.40 US cents at 0700 AEST on Thursday, from 75.97 on Wednesday.

CURRENCY SNAPSHOT AT 0700 AEST:

CURRENCY ASK BID PREVIOUS

AUD/USD 0.7642 0.7640 0.764

AUD/JPY 85.83 85.78 85.78

AUD/EUR 0.6718 0.6714 0.6714

AUD/NZD 1.0463 1.0454 1.0454

AUD/GBP 0.5913 0.591 0.591

GOLD:

The spot price of gold in Sydney at 0700 AEST was $US1,248.8 per fine ounce, from $US1,251.06 per fine ounce on Tuesday.

BOND SNAPSHOT AT 0700 AEST:

* CGS 4.50 per cent April 2020, 1.8225pct, unchanged

* CGS 4.75pct April 2027, 2.463pct, unchanged

Sydney Futures Exchange prices:

* August 2017 10-year bond futures contract at 97.480 (implying a yield of 2.520pct), from 97.495 (implying a yield of 2.505pct) on Wednesday

* August 2017 3-year bond futures contract at 98.120 (1.880pct), from 98.110 (1.890pct).

(*Currency closes taken at 1700 AEST previous local session, bond market closes taken at 1630 AEST previous local session)