The local sharemarket is expected to open higher when trading resumes today after the Australia Day holiday.
In the US on Friday, the Dow Jones Industrial Average gained 70.65 points, or 0.51 per cent, at 13,896 points.
Stocks were boosted by earnings from the world's largest consumer products maker, Procter & Gamble, which reported that its quarterly income had more than doubled. The company also raised its profit forecast for its full fiscal year.
Starbucks was another positive influence on the US market after it reported a 13 per cent increase in profits.
The broad-based S&P 500 index lifted 8.14 points, or 0.54 per cent, to 1502.96 points.
The tech-heavy Nasdaq Composite index added 19.33 points, or 0.62 per cent, to 3,149.71 points.
AMP Capital's head of investment strategy, Shane Oliver, said the Australian market should have a positive start today after the break.
