Glencadam Gold and Miss Stellabelle have been installed as early market favourites for Thursday's Newcastle Gold Cup and Tibbie Stakes respectively.

Glencadam Gold will look to remain unbeaten since arriving in Australia when he contests Thursday's $200,000 Group 3 Newcastle Gold Cup (2300m).

The Gai Waterhouse-trained galloper goes into the Newcastle Gold Cup off a dominant win in the Listed Premier's Cup (1800m) at Rosehill.

Rising in distance third up, the UK import has been installed as an even money favourite to claim the Newcastle feature with TAB Sportsbet Fixed odds.

Early markets suggest the Group 3 event could be a two horse race with the Chris Waller-trained Kelinni the only other runner quoted at single figure odds ($3.60).

Kelinni last start ran behind another Gai Waterhouse-trained import Julienas when fourth in the Wyong Gold Cup.

The $100,000 Listed Tibbie Stakes (1400m) is considered a more open affair where markets are headed by Miss Stellabelle.

Miss Stellabelle was most convincing when taking out the Listed Mona Lisa Stakes last start where she comfortably accounted for placegetters Irish Dream and She Goes To Rio.

Those trio of mares will clash once again with Irish Dream and She Goes To Rio quoted at $4.80 and $6 respectively.

Others high up in the Tibbie Stakes market include Nocturnelle ($4.60) and New Beginning ($6).

The Newcastle Gold Cup carnival could be a big one for leading trainer Gai Waterhouse.

Waterhouse will also saddle up the favourites for both feature races on the Wednesday with Proisir in the Group 3 Spring Stakes (1600m) and Kontiki Park in the Group 3 Cameron Handicap (1500m).