After the American rate of unemployment recorded a sudden and unexpected decline, stocks with US operations and wealth managers jumped higher, taking the whole Australian market higher in the morning trading. The share market has today opened 0.3% higher than the closing figure last recorded.

The S&P/ASX200 index, at about 10.17 am EST, recorded a hike of 14.4 points, or 0.31%, to trade at a new high of 4716.6 points, and the broader All Ordinaries surged by 13.1 points, or 0.28%, to 4734.3 points.

The rise has mainly been led by stocks which have "significant US business", including QBE Insurance, which recorded a rise of 40 cents, or 1.8%, to $22.72, News Corp which rose by 44 cents or 2.8% to $15.59, and Brambles and Westfield, which grew by 8 cents and 10 cents respectively.

Banks are also leading the score board with Westpac rising by 0.8% and ANZ and Commonwealth Bank shooting up by 9 cents and 28 cents, respectively. All other major banks recorded hikes as well, except for the National Australia Bank which fell about 2 cents.

The rise is hugely driven by the positive figures which came to light on Friday with regards to the rate of US unemployment which is now at 10%, beating estimates and sounding an upbeat chime.