The Australian share market is expected to open with gains on Monday after it finished the first week of 2018 at a decade high 6122.30
The local share prices futures index was pointing to 18 point or 0.3 per cent gains to 6092 on Monday.
US stocks soared to new record highs on Friday after the Dow Jones Industrial Average broke through the 25,000 point barrier on Thursday.
The Dow Jones rose 220.74 points, or 0.88 per cent, to 25,295.87, the S&P 500 gained 19.16 points, or 0.70 per cent, to 2,743.15 and the Nasdaq Composite added 58.64 points, or 0.83 per cent, to 7,136.56.
The positive start to the year in global markets was due to mostly good economic data coming out of most parts of the world recently.
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However US jobs growth had been slightly softer than expected when released last week, CommSec chief economist Craig James said.
"That data is suggesting income will continue to rise and there will be more wage growth through and therefore profits and the sharemarket rising on the back of it," he told AAP.
A strong iron ore price that rose to $US77.10 a tonne on Friday is helping Australian mining stocks.
The second week of the year will provide more Australian economic data for investors to digest.
The latest buildings approvals figures and ANZ job ads numbers will come out on Tuesday, followed by official ABS job vacancies data on Wednesday and November retail sales data on Thursday.
The benchmark S&P/ASX200 index was up 45.2 points, or 0.74 per cent, at 6,122.3 points.
The local currency was trading at 79 US cents.
