The second day of month appears strong for traders at the Sydney Futures Exchange. The September share price index contract opened higher by 74 points at 4567.

The high opening could be seen as a jump in the gains of Tuesday. The Australian share market is also expected to be driven further up today considering the increase of 30.96 points to 1080.29 point in the US S&P500. The market could also follow the rise of 141.19 points to 5366.41 points in the European FTSE 100.

The price of gold dropped $US2.20 an ounce to $US1248.10. In contrast, oil prices went up $US1.99 a barrel to $US73.91.

After eight weeks in the glut, Wall Street jumped back as investors' confidence grew due to manufacturing data from the United States and China.

On the New York Stock Exchange, more than six shares went up for every one that fell. On the Nasdaq, close to five stocks climbed for every one that went down.