ASX set to rise after mega-caps boost Wall Street

The Australian sharemarket is set to open stronger after Wall Street’s main indexes climbed overnight, underpinned by strength in some mega-caps, while caution ahead of a report on US inflation and big bank earnings later in the week kept investor sentiment in check. ASX futures edged up 13 points, or 0.2 per cent, to 7458 as of 7:59am AEDT. On Wall Street, the Dow Jones Industrial Average closed 0.45 per cent higher at 37,695.73, the S&P 500 rose 0.3 per cent and the Nasdaq Composite climbed 0.75 per cent. The Aussie dollar traded largely unchanged at 66.97 US cents. Wall Street closed higher as some mega-cap stocks advanced…