ASX to trade up as US tech stocks Tesla, Facebook and Apple begin to report

The Australian sharemarket is set to regain some of Monday’s losses, after US tech stocks hit record highs overnight.

As of 7:30am, ASX 200 futures were up 0.1 per cent to 7,026.

That is after the benchmark closed down 0.2 per cent at 7,045 points on Monday.

The Australian dollar hit 78 US cents overnight but then dipped to 77.96 US cents.

The local sharemarket’s optimism comes after the S&P 500 and Nasdaq in the US closed at record highs in Monday (local time) trade.

Some of the S&P 500’s biggest companies are releasing results this week, including Tesla, Microsoft, Google’s parent company Alphabet, Apple, and Facebook. 

Of 124 companies in the…