The Australian share market is poised to rise in early trade after US investors were buoyed by the continued easing of lockdowns.

The SPI 200 futures contract was higher by 50 points, or 0.87 per cent, to 5,823.0 at 0700 AEST on Thursday, indicating gains in early trade.

Bank stocks powered the US markets’ advance, with the S&P 500 financial index leading gains among major sectors.

More noteable businesses said they would reopen amid the coronavirus pandemic.

Walt Disney announced plans to reopen its Walt Disney World resort in Florida, the world’s largest theme park, in phases beginning July 11.

MGM Resorts said it would reopen its four Las Vegas casinos on June 4.

The Dow Jones Industrial Average rose 553.16 points, or 2.21 per cent, to 25,548.27, the S&P 500 gained 44.36 points, or 1.48 per cent, to 3,036.13, and the Nasdaq Composite added 72.14 points, or 0.77 per cent, to 9,412.36.

In Australia today, investors will be monitoring Reserve Bank Governor Philip Lowe’s appearance before the Senate Select Committee on COVID-19.

Mr Lowe will discuss the economic implications of the restrictions to slow the spread of the virus.

The benchmark S&P/ASX200 index closed Wednesday down five points, or 0.09 per cent, at 5,775 points.

The All Ordinaries also closed down five points, or 0.08 per cent, at 5,884.9 points.

One Australian dollar was buying 66.21 US cents at 0700 AEST, down from 66.44 US cents at the close of trade on Thursday.

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