The share market has opened higher following more encouraging news on the US economy, while retailers benefit from reports of strong Boxing Day sales figures. The Australian Retailers Association says more than $2 billion was spent by consumers on Boxing Day, and forecasts spending in the coming weeks will be greater than at the same time a year ago. Myer shares were up 6.5 cents at $2.795, David Jones had added 4.5 cents at $3.035, Harvey Norman was up six cents at $3.21 and JB Hi-Fi was 23 cents higher at $21.61. The grocery chains were also higher, with Woolworths up 20 cents at $33.90 and Coles owner Wesfarmers 31 cents higher at $44.10. Most other sectors of the market were also higher, with sentiment boosted by a drop in first-time claims for unemployment benefits in the US. That helped Wall Street achieve fresh records. Stocks in Japan have hit a six year high, as the Yen dropped. "The US and Japan are providing a positive backdrop for share price appreciation, while commodities are also modestly stronger," IG chief market strategist Chris Weston said. Among the local banks, National Australia Bank was up 11 cents at $34.89, Westpac was up 10 cents at $32.24, ANZ had gained 20 cents at $32.33 and Commonwealth Bank was 66 cents higher at $77.82. In the resources sector, BHP Billiton was 30 cents higher at $37.59 while Rio Tinto had gained 66 cents at $67.50. On Friday at 1044 AEDT, the benchmark S&P/ASX200 index was up 33.5 points, or 0.63 per cent, at 5,361.2 points. The broader All Ordinaries index was up 34 points, or 0.64 per cent, at 5,359.4 points. The March share price index futures contract was 26 points higher at 5,342 points, with 2,238 contracts traded. National turnover was 171 million securities worth $297 million.