Australian Stock Report Morning Market View: Can Australian shares make it seven winning sessions in a row?

Overnight, the Bank of England surprised the markets by keeping rates on hold, but most of the Committee members expect easing at the 4 August meeting.

In the US, the Federal Reserve remains comfortable with a cautious approach to policy in the near term.

U.S. stocks extended their run into the record books, with the Dow Industrials and the S&P 500 notching new closing highs.

"Stronger-than-expected results from large financial institutions as well as upbeat economic data powered the climb, which has added to a record run by stocks," said Chris Conway, Head of Research and Trading at Australian Stock Report.

The S&P 500 rose 11.32 points (+0.5%) to close at 2163.8, with the financial, materials, and tech sectors leading the gains. The benchmark index reached an intraday high of 2169.

The index closed at an all-time high for a fourth-straight session, its longest such streak since November 2014.

The Dow advanced 134.3 points (+0.7%) to close at 18506.4, after touching an intraday high of 18537.6. The blue-chip gauge has registered its third straight record close.

The Nasdaq advanced 28.3 points (+0.6%) to finish at 5034.06, for its highest close of 2016.

For the year, the index is up 0.5%. Higher oil prices, after a sharp drop in the previous session, boosted shares of energy companies.

On that front, Brent crude added 2.1%, whilst spot gold and iron ore were both weaker, off 0.8% and 1.2%, respectively.

The Aussie dollar strengthened overnight and this morning is fetching 76.3 U.S. cents.

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