The S&P 500 climbed to an all-time high on Tuesday on a heavy day of corporate results while the Nasdaq also managed to set a record high, supported by a positive earnings season.

Meanwhile, copper prices hit their highest in two years on Tuesday along with hefty gains in nickel and iron ore prices, while oil gained more than 3 percent a day after US oil producer Anadarko said it would cut capital spending plans to help curb global oversupply.

The local share price index futures rose 0.7 percent to 5705 a 21.6 point discount to the underlying S&P/ASX 200 index close.

The benchmark rose 0.7 percent, to 5,726.6 on Tuesday. New Zealand's benchmark S&P/NZX 50 index fell 0.2 percent in early trade.