Asia markets poised to climb as Wall Street continues rally; Australia inflation numbers expected

Asia-Pacific markets are set to extend gains as Wall Street continued to rally for a second straight day and investors look toward first-quarter inflation figures from Australia.Australia's consumer price index is expected to rise 3.5%, marking its fifth straight quarter of slowing inflation, according to economists polled by Reuters.Feeling out of the loop? We'll catch you up on the Chicago news you need to know.

Goldman Sachs' David Kostin expects earnings will be higher this year even amid concerns of margin pressures in the face of higher inflation. "What that suggests to us is that companies are able and demonstrating the ability to kind of squeak over a little bit margin," Kostin told CNBC's"Squawk on the Street" on Tuesday.

"Our forecast is that market rises slowly in line with expectations for earnings," Kostin said."Margins will be roughly flat, and then ultimately it's a little bit about economic growth will drive sales, and that's largely the reason for earnings to be higher for this year."JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S.

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