Australian shares are poised to rise on Thursday, following Wall Street's gains as investors digest mixed messages from Federal Reserve officials and weaker US labor data.

Market sentiment was also boosted by easing inflation worries and increasing expectations of a Fed rate cut, alongside mounting political pressure on Chair Jerome Powell.

Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.3%, 0.1%, and 1%, respectively.

In the macroeconomy, the labour force and building approvals reports are due at 11:30 am Sydney time.

In corporate news, Westpac Banking (ASX:WBC, NZE:WBC) reported on Thursday a fiscal third-quarter net profit of AU$1.9 billion, up from AU$1.8 billion a year earlier, with net interest income rising to AU$5 billion from AU$4.7 billion and non-interest income increasing to AU$800 million from AU$700 million.

Telstra Group (ASX:TLS) reported on Thursday fiscal 2025 earnings of AU$0.189 per share on revenue of AU$23.13 billion, compared with earnings of AU$0.141 on revenue of AU$22.93 billion a year earlier.

Australia's benchmark index fell 0.6% or 53.7 points, to close at 8,827.10 on Wednesday.