The Australian stock market is little changed at noon after pulling back from a fresh five-year high reached in morning trade.
At 1205 AEDT, the benchmark S&P/ASX200 index gained 0.09% to 5,445.3 points, while the broader All Ordinaries index increased 0.11% to 5,456.1 points.
By 1035 AEDT the benchmark index had hit as high as 5461.7, its highest point since the week of June 9, 2008.
Meanwhile, the All Ordinaries also pushed into record territory. The index touched as high as 5471.8 points, also a fresh five-and-a-half year high and again the highest point since June 2008.
IG market analyst Evan Lucas noted the strong Wall Street leads, with the S&P reaching a record intraday high and closing in the black.
"It's a very rare thing to see the United States markets underperforming the rest of the world, and this does provide market upside," he said.