Australian stocks jumped in early trade, heading for the fifth positive session in a row.
Local investors followed Wall Street where the S&P 500 closed up by 0.9%.
The major banks, the big miners and energy stocks led the market with all ten local sectors in the green.
Santos was more than 7% stronger at $5.89, BHP was up 2.5% to $25.64 and the ANZ 1.7% to $28.43.
So far, the market is up about 4.5% this week.
The energy sector is the top performer, rising 12% for the best weekly gain since since February 2012.
Evan Lucas, IG market strategist, says the ASX is net positive by about $44 billion over the past two weeks.
“Today should see several mini-records being broken and see risk assets recording its best Monday through Friday rally in over 18 months,” he says.
Lucas says the material sector has added 7.8% since Monday, its best weekly gain in 2015 and biggest weekly move since 2013.