Shares in Australia started the day higher, tracking gains on Wall Street.
ASX 200 is up 74 points, or 1%, to 7,256 at 10:32 a.m. AEST.
The Australian dollar was up 71.61 US cents this morning.
Shares of AGL Energy fell 2.7 percent to $ 8.63 after news broke that the company was abandoning its plans to split its coal-fired generation business.
ANZ rose 0.2 percent to $ 25.72, despite being sued by corporate control agency ASIC for allegedly misleading its customers about how much money they have left to spend on their credit card accounts. .
Among the best results were A2 Milk (+ 9.3pc), Novonix (+9.1pc) and Block (+7.7pc).
Global markets enjoyed a broad rebound on Friday.
Wall Street rebounded after the data, and the top three U.S. stock market indices decisively ended its longest weekly loss streak in decades.
The U.S. Federal Reserve, in minutes of its May meeting released earlier this week, called inflation a serious concern.
Most central banks supported two half-percentage point rate hikes in June and July as the group tries to curb inflation without causing a recession.
The Fed left room for a pause in gains if the economy weakens.
Analysts said consumer spending and inflation data were encouraging and supported growth estimates for the second quarter, which are mostly above an annualized rate of 2.0.
“The engine of growth in the U.S. economy is still alive and well, and that’s important,” said Joe Quinlan, head of Cerr Market Strategy at Merrill and Bank of America Private Bank.
“Growth forecasts for [the second quarter] they are still good. There is a better tone in the market than we have seen in recent weeks, in terms of possibly maximum inflation here. Maybe we can avoid stagnation. “
The MSCI Global Equity Index, which tracks stocks in 45 countries, rose 2.12%.
European stocks reached a three-week high and rose 1.42%. The British FTSE also hit a three-week high and was heading for its best weekly projection since mid-March.
The Dow Jones Industrial Average rose 575.77 points, or 1.76 percent, to 33,212.96, the S&P 500 gained 100.4 points, or 2.47 percent, to 4,158.24 and Nasdaq Composite added 390.48 points, or 1.3 percent, 1.3 percent, 1.3 percent.
In the oil markets, Brent crude oil rose to $ 119.72 a barrel at 10:52 a.m. EAST.
ABC / Reuters