Aust stocks set to open higher

Market expected to lift in early trade after Dow, S&P 500 hit fresh closing highs in US.

The Australian stock market looks set to open higher after the Dow Jones Industrial Average and S&P 500 vaulted to new records following Federal Reserve chairman Ben Bernanke's pledge to maintain the central bank's easy-money policy for the foreseeable future.

At 0658 AEST on Friday, the September share price index futures contract was up 36 points at 4,952.

In economic news on Friday, the Australian Bureau of Statistics is due to release Housing finance figures for May.

In equities news, Inabox Group, a wholesaler of telco services to small businesses, lists on the ASX.

In Australia, the market on Thursday shot up by 1.3%, with investors cheering comments out of the US that money would continue to be pumped into the world's largest economy.

Shares in Australia soared on US Fed chairman Ben Bernanke's comments that central bank support through stimulus would continue for the foreseeable future, after flagging an end to it sent markets diving last month.

Job numbers provided the other major influence, with investors focusing less on the bad news of a rise in unemployment to 5.7% in June, and more on the better than expected 10,400-plus net jobs created.

The benchmark S&P/ASX200 index was up 64.3 points, or 1.31%, at 4,965.7 points, while the broader All Ordinaries index was up 61.5 points, or 1.26%, to 4,946.9 points.