The Australian share market has pared back gains from earlier in the day to finish up 0.3 per cent, tugged higher by consumer discretionary stocks as Premier Investments struck a deal with Myer to sell several of its fashion brands.
The benchmark S&P/ASX200 index on Tuesday advanced 27.7 points, or 0.3 per cent, to finish at 8249.2, while the broader All Ordinaries gained 27.7 points, or 0.3 per cent, to 8505.9.
The local bourse followed Wall Street higher ahead of key economic data on the labour market and inflation as well as earnings reports from tech high-performers later in the week.
In Australia, all-important third quarter inflation data on Wednesday will be watched closely for evidence of price pressures cooling enough for the central bank to put interest rate cuts on the agenda.
At the closing bell, seven of the ASX's 11 sectors were higher, led by the consumer discretionary sector, which gained 0.8 per cent, and technology, which rose 0.7 per cent.
Shares in Premier Investments surged 9.9 per cent as it struck a deal with Myer to buy Just Jeans, Jay Jays, Portmans, Dotti and Jacqui E apparel brands. The retail conglomerate will retain stationery retailer Smiggle and sleepwear label Peter Alexander.
Myers shares fell 1.6 per cent.
The mining sector gained 0.6 per cent, helped along by Mineral Resources shares lifting 7.2 per cent after the company responded to questions from the market operator in relation to personal tax evasion allegations involving its founder.
BHP shares ticked 0.2 per cent higher, to $43.04, Rio Tinto rose 0.8 per cent, to $121.10, and Fortescue gained 0.3 per cent, to $19.46.
All big four banks posted gains. ANZ rose 0.4 per cent to $31.56, NAB finished 0.6 per cent higher at $38.91, Westpac lifted 0.3 per cent to $32.24 and Commonwealth Bank rose 0.9 per cent to $131.
Zip Co shares climbed 11.8 per cent following its first quarter update showing cash earnings of $31.7 million, 234 per cent higher over the previous corresponding period. Earnings growth was driven mainly by the US business, the buy now, pay later provider said.
Shares in luxury retail platform Cettire plummeted 17.3 per cent as its quarter one results disappointed, with sales growth slowing.
The Australian dollar was buying 65.56 US cents, down from 65.92 US cents at Monday's ASX close.
