Share markets across Australia followed America's lead and gained significant margins after a positive economic data posted by the US economy boosted Wall Street almost overnight.

The benchmark All Ordinaries gained as much as 1.3% to reach 4,793 points just before mid-day trading, and the country's ASX 200 went 61 points higher at 4,780.

Last night, after reportedly high economic gains, US's Dow Jones hit its highest close reading in almost 14 months after rising 127 points to 10.471. The broader S&P, on the other hand, closed
13 points higher at 1,109.

The technology focus market, NASDAQ, also managed to add 31 points to its reading to reach a new high of 2,176.

In the Australian markets, the resources sector emerged as the leader, with Iluka Resources rising by as much a 5% to trade at a new high of $3.69 per share. Newmont Mining also gained 3% to $6.01.

Qantas also managed to extended yesterday's strong gains and closed 4 cents higher at $2.74.

In light of the markets' rise, the Australian Dollar also gained, and right before mid-day was recorded as buying 92.66 US cents.