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SYDNEY, Nov 29 AAP

November 29 2012, 06:48AM

The Australian market looks set to open higher following Wall Street gains on optimism the looming "fiscal cliff" of automatic tax rises and spending cuts threatening the US with recession can be avoided.

At 0643 AEDT on Thursday, the December share price index futures contract was up 14 points at 4,465.

In economic news on Thursday, the Australian Bureau of Statistics releases private new capital expenditure and expected expenditure data for the June 2012 quarter, while the HIA new home sales figures for October are also due out.

Treasury Wine Estates chief executive David Dearie is due to speak at an American Chamber of Commerce lunch in Sydney.

In equities news, Seek, BHP Billiton, Linc Energy, Sundance Energy, Australian Pacific Coal and Nemex have annual general meetings scheduled.

In Australia, the market on Wednesday closed slightly lower, amid renewed scepticism about the Greek bailout deal.

At close, the benchmark S&P/ASX200 index was down 9.5 points, or 0.21 per cent, at 4,447.3 points, while the broader All Ordinaries index had fallen 10.8 points, or 0.24 per cent, to 4,462.6 points.