The Australian sharemarket is set for gains this morning after Wall Street pulled US stocks near their records overnight thanks to cooling trade tensions and solid company results.

Rare earths stocks are expected to be in the spotlight after Prime Minister Anthony Albanese and US President Donald Trump signed a landmark critical minerals deal that will pave the way for joint rare earths projects between the two countries, as well as US projects in Australia.

ASX futures were up 47 points, or 0.5 per cent, at 9089 as of 6.59am AEDT, suggesting the local bourse will rise further after a banking rally sent it 0.4 per cent higher on Monday. The Australian dollar traded flat at US65.13¢ as of 6.58am AEDT.

The deal signed by Donald Trump and Anthony Albanese is likely to put the focus once

See Full Page