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