The benchmark S&P/ASX200 maintained the gains acquired over the day and finished Friday up 25.2 points or 0.42 per cent to 6,057.9 points, while the broader All Ordinaries finished 21.4 points higher, or 0.35 per cent at 6,163.7.
This is the fourth straight day of gains in a row, meaning the ASX is up 2.6 per cent over the whole week.
The Australian dollar was buying 69.36 US cents, slightly lower from 69.29 US cents at the close of trade on Thursday.
What happened in the afternoon?
The benchmark S&P/ASX200 has dropped slightly, but remains up 0.48 per cent at midday trade.
The broader All Ordinaries index has similarly pared back gains, trading 0.40 per cent higher to 6,166.70 points at 12.04 AEST.
Australian retail figures revealed trade expanded even more in May than originally thought, with ABS data showing turnover rose 16.9 per cent, rather than the preliminary figure of 16.3 per cent.
What happened this morning?
The benchmark S&P/ASX200 has started off in the green, up 0.89 per cent to 6,086.40 points at 10:28am AEST.
The broader All Ordinaries index is similarly up by 0.86 per cent to 6,194.90 points at 10:28am AEST.
The strong start follows Wall Street’s gains overnight, buoyed by a government report that said US employers had added 4.8 million jobs in June, overshooting forecasts by 1.8 million.
Later today retail trade figures for May will be released, which will show how badly the Australian economy has been hit by the pandemic at its peak.
The Australian dollar was buying 69.24 US cents at 0800 AEST, lower from 69.29 US cents at the close of trade on Thursday.
What happened overnight?
All three major US bourses finished up Thursday in the green as investors headed into their long holiday in high spirits, reassured that economic recovery was underway.
The US unemployment rate also showed signs of improvement, down to 11.1 per cent from 13.3 per cent in May.
The Dow Jones Industrial Average rose 92.39 points, or 0.36 per cent, to 25,827.36, the S&P 500 gained 14.15 points, or 0.45 per cent, to 3,130.01 and the Nasdaq Composite added 53.00 points, or 0.52 per cent, to 10,207.63.
However, several US states are still recording new cases of the coronavirus.
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