ASX 200 +0.7%; banks, IT, Health Care up strongly

Australia's share market rose on light volume after a two-day fall as the US share market rose for a second day and US futures pointed to further gains on overnight.

ASX investors are bracing for another mixed day. Picture: Joel Carrett

Welcome to the Trading Day blog for Thursday, October 7. Australian stocks are trading 0.7 per cent higher on light volume, supported by strong US futures.

Australian stocks are trading about 0.7 per cent higher at 7261.2 on US futures adding to bullish offshore leads.

It came after Wall St closed in positive territory supported by talks of a possible resolution of the congressional gridlock on raising the government debt ceiling.

S&P 500 closed 0.4 per cent higher, Dow Jones ended up 0.3 per cent and Nasdaq also climbed 0.5 per cent.

The US Nymex crude price (WTI) fell 1.9 per cent to US$77.43 a barrel, down from 7-year highs.

Iron ore remained unchanged at US$117.80 per tonne.

Originally published as ASX 200 +0.7%; banks, IT, Health Care up strongly