From Nasdaq, Inc.:



Australian shares are trading significantly higher following positive cues from Wall Street, recouping previous session losses. The benchmark S&P/ASX 200 moved well above the 7,500 level, with technology stocks leading gains across most sectors. Mining and energy stocks also gained from a spike in commodity prices.

The benchmark S&P/ASX 200 Index gained 72.40 points to 7,574.00, with the broader All Ordinaries Index up 75.50 points to 7,805.70. Stocks in the tech space, major miners, oil stocks, banks, and gold miners experienced various levels of gains, with some individual stocks like Afterpay owner Block and Zip gaining almost 2 percent. On Wall Street, major averages moved mostly higher during Tuesday’s trading, with the Dow, Nasdaq, and S&P 500 all registering gains.

Crude oil prices surged higher Tuesday amid escalating tensions in the Middle East and concerns over trade disruptions following attacks on ships, with West Texas Intermediate Crude oil futures for February jumping 2.7 percent to $75.57 a barrel. Meanwhile, the major European markets remained closed on the day in observance of Boxing Day.



Read more: Australian Market Significantly Higher | Nasdaq