The Australian sharemarket has made a bright start to the week on the back of a positive lead from Wall Street while the United States and China are closing in on a trade truce.

The S&P/ASX 200 was up 35.5 points, or 0.4 per cent, to 9054.7 at 12.38pm AEST, with seven of 11 industry sectors in positive territory, led by technology and financial stocks.

Wall Street climbed higher to close the week. Credit: Bloomberg

Financial stocks are sharply higher, with Commonwealth Bank, the biggest stock on the bourse, adding 0.9 per cent in early afternoon trade while big four peers Westpac (up 0.9 per cent), National Australia Bank (up 1.4 per cent) and ANZ Bank (up 0.4 per cent) also climbed.

Mining stocks are mixed. Among iron ore heavyweights, Fortescue added 0.3 per cent, Rio Tinto rose

See Full Page