Stocks ready for a second day of gains as Australia hikes rates

U.S. stocks are set for higher open Tuesday morning, ready for second day of gains to continue Monday's rally when U.S. stocks bounced back from a two-week selloff. All three major indices gained at least 1 percent Monday ahead of the upcoming third quarter earnings season to be kicked Wednesday when Alcoa (AA) -- the first of the Dow industrials -- reports. This morning, investors were positively reassured when Australia became the first G-20 economy to raise interest rates, fueling optimism about the global economic recovery.

More here: Before the bell: Futures higher as Australia hikes rates