Australian shares are poised to open higher, tracking gains from Wall Street following US President Donald Trump's first day in office.

In macroeconomic news, the Westpac Leading Index is slated for release at 11 am Sydney time, while building activity for the September 2024 quarter is scheduled at 11:30 am.

Overnight, the Dow Jones Industrial Average gained 1.2%, while the S&P 500 and the Nasdaq Composite rose 0.9% and 0.6%, respectively.

Following Trump's inauguration, investors are all eyes on the new president's agenda after a flurry of executive orders signed on his first day in office, covering immigration, health, environment, and taxation. Notably, Trump did not announce any further tariffs on Chinese goods on Tuesday but warned that 25% tariffs could hit Canada and Mexico next month.

In corporate news, Woodside Energy (ASX:WDS) produced 193.9 million barrels of oil equivalent per day in the 12 months to December 2024, reaching the top end of its production guidance, according to a Wednesday filing.

Pacific Edge (NZE:PEB, ASX:PEB) reported total laboratory throughput of 7,092 tests for the fiscal third quarter ended December 2024, a 0.7% rise from the prior three-month period. It also disclosed plans to seek a preliminary US injunction following the removal of Cxbladder test from the coverage of Medicare contractor, Novitas.

Australia's benchmark index rose 0.7%, or 55.00 points, Tuesday to close at 8,402.40.