At 10.10am (AEST), the benchmark S&P/ASX200 index was up 28 points, or 0.61 per cent, at 4598.8 while the broader All Ordinaries rose 25.1 points, or 0.55 per cent, to 4598.6.
EL&C Baillieu Stock Broking director, Richard Morrow said the market is "firm but quiet.''
"There's certainly a reluctance for investors to go chasing prices,'' he said.
"Basically it's following the rest of the world on a high.
"There's a lot of economic data coming out of China later on.''
Financials were all higher.
ANZ gained 20 cents to $22.51, NAB added 26 cents to $29.08, Westpac advanced 13 cents to $24.52, and Commonwealth Bank rose 43 cents to $47.71.
The retail sector was also strong after yesterday's labour data showed a steady unemployment rate.
David Jones climbed 3.08 per cent to $5.36 despite news its competitor Myer increased full-year profit by 14.8 per cent and would commence pre-registration for an initial public offering.
Harvey Norman was up 2.96 per cent to $4.18.
Supermarket giant Woolworths was up 7 cents to $28.44 while Wesfarmers, which owns rival Coles was down 7 cents to $25.44.
In the US, the Dow Jones Industrial Average rose 80.26 points, or 0.84 per cent, to 9627.48 overnight.
The big miners were also in positive territory.
BHP Billiton added 34 cents to $38.34, while Rio Tinto edged higher, up 15 cents at $59.
Mr Morrow said energy stocks were solid following crude oil ending 63 cents higher at $71.94.
Woodside rose 1.28 per cent to $48.94, Oil Search added 1.57 per cent to $6.47 and Santos gained 1.53 per cent to $15.89.
Gold miners strengthened despite the gold price falling for a second straight day, as optimism about the US economy grows and investors funnel money into stocks and oil.
Lihir added 1.67 per cent to $3.04 and Newcrest Mining was up 1.91 per cent to $34.20.
Newmont grew 2.64 per cent to $5.44.
By 10.30am (AEST), the spot price of gold in Sydney was $US994.75 per fine ounce, down 82 cents on Thursday's closing price of $US995.57.
On the Sydney Futures Exchange, the September share price index contract gained 26 points to 4591, on a volume of 9263 contracts.
Resources, banks push market higherGold eclipses $1,000
