Wall Street Rallies on Weak Jobs Report

The US jobs report showed an unexpected decline in employment, with 23,000 jobs cut last month. This has boosted Wall Street, with stocks rising across the board.

The S&P 500 index notched a second straight week of gains, reaching a new all-time high of 7,757.64. The Dow Jones Industrial Average and Nasdaq composite also rose, with the Dow just shy of its record.

Australia's sharemarket is expected to follow suit, with futures pointing to a gain of 33 points at the open.

Sunrise Energy Metals will be in focus after securing a $US400 million loan from the Pentagon for its scandium mining project in NSW.