It was another volatile session on US markets overnight, but this one ended with a positive outcome for the three major indices.
Wall Street returned to its winning ways after data showed a surprise drop in weekly US jobless claims to the lowest in two months.
That was followed by data showing November Chicago-area manufacturing growth beating expectations, and consumer sentiment rebounding due to an improved economic outlook among Americans.
The Dow climbed 24 points (+0.2%) to 16097, the S&P500 added four points (+0.2%) to 1807 and the Nasdaq put on 27 points (+0.7%) to 4045.
In commodity markets, oil copped another hammering after supply data revealed the tenth consecutive weekly rise in US crude inventories. Front month oil futures slumped 1.5% to US$92.27 a barrel.
Gold was also weaker, weighed down by the US dollar, which strengthened on the back of the positive consumer sentiment data. Bullion futures shed 0.3% to US$1238 an ounce.
The greenback soared to a six month high against the yen after a Bank of Japan official indicated the central bank is open to further monetary easing.
In economic news, private capital expenditure data is due for release at 11:30am, AEDT. HIA new home sales data is also due out at some stage today.