The Australian share market looks set for a cautious opening if you go by the futures, with investors weighing up three key things:

1. The Global equity rallying overnight
2. The oil price swinging 25% lower to $12.93 on fears that worldwide storage will soon be at capacity
3. Local earnings results due out today from Aussie companies

Looking at overnight markets, Wall Street charged ahead with their benchmark indices all gaining over 1%, on hopes of further lockdowns being lifted, while earnings news from Deutsche Bank and pharmaceutical Bayer helped fuel European equities higher and saw the German market gain over 3.1%.

Today, investors will be watching St Barbara (ASX:SBM), Saracen (ASX:SAR), Northern Star Resources (ASX:NST), Growthpoint Properties Australia (ASX:GOZ) and Mesoblast (ASX:MSB).