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Morning Update – Thursday 30 July, 2015

The Aussie market is poised to press higher again today, after U.S. markets extended gains overnight.

The SPI futures are pointing to a 20 point jump on the open after American stocks closed higher as the Federal Reserve offered no clear indication of the timing of the next rate hike, but left itself room to act as early as September, citing continued “solid” gains in the job market.

The S&P 500 ended up 15.32 points (+0.7%) to 2,108.6, with all 10 main sectors finishing higher.

A jump in oil prices provided support to energy stocks, while industrials and consumer discretionary sector stocks also rallied.

The Dow Jones rose 121.1 points (+0.7%) to 17,751.4, marking the fifth consecutive triple-digit move for the blue-chip index.

The tech-heavy Nasdaq ended the session up 22.5 points (+0.4%) at 5,111.7.

In the commodity space, gold added 0.2%, Brent crude put on 0.6% and iron ore surged 4.6%.

The Aussie dollar retreated and this morning is fetching just shy of 73 U.S. cents.

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