S&P/ASX 200 (INDEXASX: XJO) (ASX:XJO) closed 0.6% up at 5,856, with miners the strongest performers.
National Australia Bank's business confidence index jumped 6 points to 19 points in January, which is materially above the long-run average of 5 points.
Midday: S&P/ASX 200 gains ground with miners advancing
BHP Billiton (ASX:BHP) gained 1.1% and Rio Tinto (ASX:RIO) shares are up 1.7%. Banks were also recovering a bit of ground after yesterday's banking commission-related losses.
11.01am: S&P/ASX 200 up 0.1%
The ASX200 is trading up 7 points or 0.1% to 5,828.
Pre-market wrap: S&P/ASX 200 set to open strongly after Dow Jones closes up 410 points
S&P/ASX 200 will look to follow the US's lead as the Dow Jones Industrial Average (INDEXDJX: .DJI) increased 1.70% or 410 points on Monday.
Similarly, the S&P 500 Index (INDEXCBOE: .INX) was up 1.39% or 36.4 points.
The AUDUSD is trading at $0.7856, up 0.52%.
S&P/ASX 200 Futures up 0.34%
The strong trading day in the US has pushed the S&P/ASX 200 Futures up 19.5 points or 0.34%.
Gold put on US$9 over the last 24 hours to be trading at US$1,324.70 and Crude Oil WTI is trading flat at US$59.31 after retreating from US$60.70 highs.
#BreakingNews: Stocks end higher after worst week since January 2016. The Dow sees first back-to-back gains since February 1. The S&P 500 and Nasdaq see their first back-to back gains since January 31. https://t.co/JkB0qPwEvZ pic.twitter.com/LLIxowckfE— FOX Business (@FoxBusiness) February 12, 2018