At 10.15am (AEST), the benchmark S&P/ASX200 was up 4.8 points, or 0.13 per cent, at 3766.4, while the broader All Ordinaries gained eleven points, or 0.29 per cent, to 3766.4.
Shaw Stockbroking senior dealer Jamie Spiteri said the local market had little to look to with holidays on Monday in both the US and the UK.
"Resources stocks were aided by commodity prices being higher on Friday evening, up 3 to 4 per cent in some cases, and also the weaker US dollar component of that as well,'' Mr Spiteri said.
"Those contributions this morning are obviously seeing our market better, but activity is not overly convincing as we've got a bank holiday in the UK tonight and also Memorial Day in the US.''
Resources stocks were higher due to stronger oil and metals prices on Friday.
BHP Billiton was up 40 cents to $33.86, while rival Rio Tinto gained $1.29 to $65.73.
The financial sector was hampered by falls in comparable stocks in the US.
Commonwealth Bank was down 9 cents to $35.42, ANZ fell 7 cents to $15.34, Westpac had lost 6 cents to $19.32, while NAB rose 4 cents to $21.80.
At 10.31am, the spot price of gold in Sydney was $US956.00 per fine ounce, up $US3.85 on Friday's local close of $US952.15.
Gold miners were mixed, with Lihir up 3 cents at $3.23, Newcrest gaining 33 cents to $32.28, but Newmont down 1 cent at $5.88.
Oil stocks surged, with Woodside up 71 cents to $43.12, Santos rose 16 cents to $14.34 and Oil Search gained 3 cents to $5.15.
Wall Street closed slightly lower on Friday, with investors worried about the economy's recovery prospects and government debt and digested upbeat retailer earnings.
The Dow Jones Industrial Average dropped 14.81 points, or 0.18 per cent, to finish at 8277.32. The Nasdaq lost 3.24 points, or 0.19 per cent, to 1,692.01 and the broad-market Standard & Poor's 500 index shed 1.33 points, or 0.15 per cent to 887 points.
Wall Street will be closed overnight for the Memorial Day holiday.
On the Sydney Futures Exchange, the June share price index contract was steady at 3775 on a volume of 4178 contracts.
