US stocks scored small gains overnight as investors weighed encouraging housing data and falling crude oil prices that stoked hopes for more growth in the tepid economy.
Shares of home builders got a boost on US markets from stronger than expected existing-home sales data and automakers pushed higher.
The Dow Jones Industrial Average was up 13.47 points (0.10 per cent) at 13,578.11 in closing trade.
The S&P 500-stock index rose 1.77 (0.12 per cent) to 1461.09, while the tech-heavy Nasdaq added 4.82 (0.15 per cent) at 3182.62.
European stocks have closed higher overnight, lifted by US housing data and Japan's extra economic stimulus following similar moves from the US Federal Reserve and the European Central Bank.
London's benchmark FTSE 100 index ended the day up 0.35 per cent at 5888.48 points, while in Frankfurt, the Dax 30 was 0.59 per cent higher at 7390.76 points, and in Paris, the CAC 40 gained 0.54 per cent to 3531.82 points.
The Australian market yesterday finished at its highest level since the start of May, driven up by news of a major Japanese economic stimulus program.
At the close of trade, the benchmark S&P/ASX200 index was up 23.7 points, or 0.54 per cent, at 4418.4, while the broader All Ordinaries index was up 22.6 points, or 0.51 per cent, at 4440.4.
In economic news today, The Reserve Bank of Australia releases its annual report.
In equities news, retailer Kathmandu, investment firm Washington H Soul Pattinson, and Brickworks release their full year results.
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