Shares climb as Dow Jones breaks though 10,000 points, RBA Governor flags more rate rises: Economy Roundup

Global economies were given a boost of optimism overnight as the Dow Jones Industrial Average moved above the 10,000 point market for the first time since October 2008, when it plunged after the onset of the global financial crisis.

Local stocks have followed suit after the rise, which was prompted by a number of better-than-expected corporate results and higher retail sales.

Analysts said the 10,000 point mark is an important milestone for investors, with many now believing the results, alongside optimistic comments from the Federal Reserve and expectations for lower unemployment, could be the beginning of a recovery.