The Australian Securities Exchange (ASX) is set to open higher, closely following the upward trend on Wall Street, where tech stocks have seen a solid rally despite ongoing tensions in the Middle East. The rise in oil prices, attributed to these geopolitical issues, is having a significant effect on the market ahead of a busy day for corporate earnings reports. Major companies, including Wesfarmers, Telstra, and Goodman, are expected to announce their results today, which could impact the market's movements further.

Wall Street is nearing the close of its trading session, with the Dow Jones gaining approximately 0.6%, the S&P 500 rising by 0.3%, and the Nasdaq experiencing a notable increase of 1.0%. These gains appear to reflect a broader confidence in the tech sector, which has driven the markets higher, contrasting with the tensions over oil supplies resulting from conflicts in Iran. The fluctuating oil market, now priced at over $70 a barrel, is contributing to the financial atmosphere, influencing both local and international markets.

As investors keep a close watch on the ASX's performance in conjunction with international market trends, these economic indicators will be crucial for strategizing future investments. The live updates from ABC News will provide ongoing analysis, ensuring market participants remain informed as they navigate through this results-packed day. Nonetheless, the report includes a disclaimer noting that the blog is not intended as investment advice, emphasizing the importance of careful decision-making when engaging in the financial markets.