The Australian market looks set to open higher, following the positive lead from Wall Street which rose one per cent, thanks to Apple's strong performance.

The SPI is trading at 5258, up 32 points.

Apple rose as much as 3.4 per cent, giving the three major indexes their biggest boost, on news the first quantities of its iPhone 7 Plus had sold out globally.

Locally, no major economic or equities news is expected on Friday. However, the case between Woolworths and US company Lowe's over the Australian retailer's plans for its Masters unit is back in the Federal Court.

Key Numbers

• The SPI is trading at 5258, up 32 points
• AUD +0.6% to 75.10 US cents
• On Wall St, Dow +1%, S&P 599 +1%, Nasdaq +1.5%
• In New York, BHP +2%, Rio +0.6%
• In Europe, Stoxx 50 +0.3%, FTSE +0.9%, CAC flat, DAX +0.5%
• Spot gold -0.4% to $US1317.06 an ounce
• Brent crude +1.8% to $US46.68 a barrel
• Iron ore flat at $US55.97 a tonne

What’s on today

No major local economic or equities news is expected

The post Morning market update 16 September, 2016 appeared first on Market Pulse.