The Australian sharemarket is expected to hover around 5000 points in the next week as traders keep a close eye on a US Federal Reserve policy meeting.
CommSec chief economist Craig James is tipping a fairly quiet start for the local market on Monday.
"The market can hold at these 5000 points, but it's unlikely to be moving any way quickly unless there's some sort of surprise from the Federal Reserve," Mr James said.
Local stocks edged higher on Friday, with a rally by banking shares offsetting weaker resources stocks.
The benchmark S&P/ASX200 index finished the session up 6.4 points, or 0.13 per cent, at 5,042, while the broader All Ordinaries index was up 5.5 points, or 0.11 per cent, at 5,023.8.
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Mr James expects the market to be buoyed by the performance of US shares as well as local energy and mining stocks.
"The Dow Jones had a great recovery for the session - after being down 150 points it finished in the black by three points, and that's encouraging," he said.
"We had the iron ore price rising again another 50 cents and I think that will support the mining and energy sector."
He tipped conditions to improve for the December quarter once a date is set for the federal election.
"Once the election gets out of the road I think the sharemarket will pick up quite significantly," he said.
