The Australian market looks set to open higher after Wall Street once again found record highs, helped by encouraging corporate reports and a surge in oil prices.
The SPI is up 34 points at 5498.
Oil prices lifted four per cent on comments from Saudi Arabia's oil minister and a forecast for a tighter crude market, while US labour data showed a drop in jobless claims.
Shares of department store operators Macy's and Kohls soared after their quarterly reports.
No Local News
The post Morning market update 12 August, 2016 appeared first on Market Pulse.