Shares are set to gain in value at the opening of trade on the Australian market, after US investors focused on economic optimism rather than increasing coronavirus infections.

The Australian SPI 200 futures contract was higher by 34.0 points, or 0.58 per cent, to 5,935.0 at 0700 AEST on Tuesday.

Wall Street investors have given a good lead for their peers down under after the Dow rose 0.59 per cent, the S&P 500 gained 0.65 per cent and the Nasdaq climbed 1.11 per cent.

Market watchers were also clinging to hopes for more government stimulus after US House of Representatives Democrats on Thursday unveiled a $US1.5 trillion infrastructure bill in the same week that reports emerged of preparations by the Trump administration for an infrastructure stimulus plan.

The virus remains prevalent. A dozen states in the US reported record increases in new cases.

However White House economic adviser Larry Kudlow told the media there was no second wave of the pandemic and it is unlikely there will be widespread shutdowns across the country.

In Australia, traders will be watching for international trade figures from May to assess how the economy is faring during turbulent times.

The share market closed flat for the second consecutive day on Monday. The S&P/ASX200 benchmark index finished up just 1.9 points, or 0.03 per cent, at 5,944 points

The Australian dollar was buying 69.08 US cents at 0700 AEST, up from 68.58 US cents at the close of trade on Monday.

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