The NASDAQ jumped 1.9%, the S&P 500 gained 1.5% and the Dow Jones Industrial Average was 1.3% higher on solid jobs data and consumer sentiment.

Market spectators are hopeful that the positive figures will translate to a strong retail performance on Friday after Thanksgiving or “Black Friday”, which is traditionally one of the biggest shopping days of the year in the US, kicking off the Christmas shopping season.

"People are getting more bullish on US economic recovery as the data improves," MF Global senior institutional trader Nick Burmester told Dow Jones Newswires.

"Conclusive signs of US economic strength could eventually cause US dollar strength, which could weigh on commodity prices.”

There was nothing weighing on commodity prices on the London Metal Exchange overnight.

Nickel jumped 4.2% to $US22,445 per tonne, tin gained 1.7% to $24,304/t, zinc was up 1.8% to $2107.25/t, while copper added 1.4% to $8285/t.

Locally, the indexes still managed to move up with the All Ordinaries gaining 0.2% or 10.1 points to 4683.3 points, while the S&P/ASX 200 closed 0.2% or 8.7 points up to 4602.2.

BHP Billiton gained 0.33% or A14c to $43.09, Rio Tinto added 0.7% or 56c to $83.05, and Newcrest Mining closed 1% or 43c up to $40.10.

Overnight in New York, Comex gold fell $US4.60 to $1373 per ounce.

Meanwhile, Fortescue Metals Group jumped 2.8% or A18c to $6.63.

The jump comes after major shareholder Hunan Valin Iron and Steel Group Company disposed of more than 1% of its holding in FMG on-market.

Hunan Valin still has a 16.25% stake in FMG.

Paladin Energy was up 28c to $4.86 after its annual general meeting in Perth today, while Lynas Corporation jumped 11c to $1.64 on yesterday’s deal with Japan’s Sojitz Corporation.

On the junior end, Oroya Mining was queried for its 29% jump to 0.9c on no news.