Market Update: The S&P/ASX 200 was up 0.8% at 5,363 points after a last hour rally that pushed the Dow and S&P 500 in the U.S. to another record close overnight. Financials rebounded strongly after yesterday's selloff with all major banks rising between 0.9% to 1.5%. Resources were also up with BHP rising 0.3% and RIO was 0.8% higher. James Hardie spiked 13.9%, hitting a record high of $12.07, after half year profit were up more than doubled. The AUD is currently trading at US$0.9344. The SPI was up 0.7% at 5,372 points on the Sydney Futures Exchange.