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.

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