The Aussie market is poised to open higher later this morning, after U.S. markets extended recent gains overnight.

The December SPI futures contract was up 37 points, at 5226.

In local economic news today, Reserve Bank of Australia head of economic research John Simon is slated to speak at the Paul Woolley Centre for the study of Capital Market Dysfunctionality Conference in Sydney.

The Australian Nickel Conference is on in Perth.

In equities news, the Bank of Queensland is expected to post full year results, while Ansell has its annual general meeting in Melbourne.

Key numbers

– SPI futures up 37pts at 5226

– AUD at 72.06 US cents, 86.49 Japanese yen, 64.11 Euro cents and 47.04 British pence

– On Wall St,S&P 500 +0.7%, Dow +0.8%, Nasdaq +0.9%

– In Europe, Stoxx 50 +0.2%, FTSE +0.2%, CAC flat, DAX +0.7&

– Spot gold down $US1.08 at $US1146.16/ounce at 3.55pm New York

– Brent crude down 48 US cents or 1% to $US51.44 at 3.30pm New York

What’s on today:

US Federal Reserve minutes, Earnings: Alcoa. Bank of England policy decision.

Stocks in focus

Have the banks bottomed? Macquarie says bank shares typically rise before their ex-dividend dates and could return to normal valuations relative to the market.

Deutsche Bank retains a $39.90 target price and “hold” rating on ASX Ltd. “As flagged at its recent AGM, recent market volatility has translated to high activity growth for ASX, with cash equity turnover up 21 per cent, SFE growth of 7 per cent and capital raisings doubling off a low pcp in 1Q16. While cash equities turnover is now ahead of our 1H16 forecasts, we retain our forecasts at this stage given a likely normalisation in recent market volatility, seasonally lower year-end activity levels ahead and equity rebate structures returning 50 per cent of any upside to participants.”

The post Morning market update 8 October, 2015 appeared first on Market Pulse.