Good morning team, Chris Conway your Head of Research here with your First Look.

The Aussie market is poised to open higher following strong gains across the US and European markets overnight, after the European Central Bank extended its quantitative easing program by at least nine months.

SPI futures are up 20 points (+0.4%), at 5562.

On Wall Street, the Dow Jones added 0.3%, while the S&P500 and Nasdaq added 0.2% and 0.4% respectively. Earlier, London’s FTSE 100 index settled 0.4% higher.

In local economic news, the Australian Bureau of Statistics is set to release housing finance figures for October later on Friday.

In equities news, Westpac holds its annual general meeting in Adelaide.

Key trades

• SPI up 20 points at 5562
• AUD at US74.51¢
• Dow Jones +0.3%; S&P500 +0.2%; Nasdaq +0.4%
• FTSE100 +0.4%, CAC +0.9%, DAX +1.8%
• Spot gold -0.3% at $US1170.06 an ounce
• Brent oil +1.2% at $US53.66 a barrel
• Iron ore -0.6% at $US81.78 a tonne

What happened overnight?

The post Morning Market Update, Updated 9 December 2016 appeared first on Market Pulse.