(fxcue news) - The Australian stock market is significantly higher on Friday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,500 level, with gains across most sectors led by mining and technology stocks. Energy stocks are the only weak spot. The benchmark S&P/ASX 200 Index is gaining 68.80 points or 0.81 percent to 8,562.50, after touching a high of 8,566.90 earlier. The broader All Ordinaries Index is up 73.40 points or 0.84 percent to 8,819.30. Australian stocks closed notably higher on Thursday. Among major miners, BHP Group and Rio Tinto are adding more than 1 percent each, while Fortescue Metals is gaining almost 1 percent and Mineral Resources is edging up 0.2 percent. Oil stocks are mostly lower. Origin Energy is losing more than 4 percent and Santos is edging down 0.2 percent, while Woodside Energy is edging up 0.3 percent. Beach energy is flat. Among tech stocks, Appen is gaining more than 5 percent, WiseTech Global is adding almost 1 percent, Xero is advancing almost 2 percent and Zip is rising more than 3 percent. Afterpay-owner Block is in a trading halt. Among the big four banks, Commonwealth Bank and Westpac are edging up 0.4 percent each, while National Australia Bank and ANZ Banking are gaining almost 1 percent each. Gold miners are mostly higher. Evolution Mining and Resolute Mining are gaining almost 2 percent each, while Northern Star Resources is advancing almost 3 percent and Newmont is adding more than 4 percent, while Gold Road Resources is losing almost 1 percent. In economic news, final demand producer prices in Australia were up 0.8 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Friday. That was shy of expectations for 1.0 percent and down from 0.9 percent in the third quarter. On a yearly basis, producer prices climbed 3.7 percent - easing from 3.9 percent in the three months prior. Meanwhile, private sector credit in Australia was up a seasonally adjusted 0.6 percent on month in December, the Reserve Bank of Australia said on Friday - unchanged from the previous month and exceeding expectations for 0.5 percent. On a yearly basis, private sector credit was up 8.6 percent. In the currency market, the Aussie dollar is trading at $0.621 on Friday. On Wall Street, stocks saw considerable volatility over the course of the trading session on Thursday, with the major averages showing wild swings back and forth across the unchanged line before eventually closing in positive territory. The Dow climbed 168.61 points or 0.4 percent to 44,882.13, ending the day within striking distance of the record closing high set in early December. The S&P 500 also advanced 31.86 points or 0.5 percent to 6,071.17, while the Nasdaq rose 49.43 points or 0.3 percent to 19,681.75. The major European markets also moved to the upside on the day. While the U.K.'s FTSE 100 Index jumped by 1.0 percent, the French CAC 40 Index advanced by 0.9 percent and the German DAX Index increased by 0.4 percent. Crude oil prices settled marginally higher on Thursday on a likely drop in supplies amid a potential tariff on Canadian and Mexican goods, while a weaker dollar also provided support. West Texas Intermediate crude oil futures for March rose $0.11 or 0.15 percent at $72.73 a barrel.