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November 20 2012, 09:30AM

The stock market in New York has closed HIGHER, with final figures for the Dow Jones Industrial Average UP 207.65 points at 12,795.96 in afternoon trading in New York, while the Standard & Poor's 500 index is UP 27.01 points at 1,386.89.

The NASDAQ Composite index is UP 62.94 points at 2,916.07.

The Australian dollar is trading at 104.06 US cents, UP from 103.67 at Monday's close.

The local currency is worth 84.65 Japanese yen, 81.42 euro cents, 65.42 British pence and 1.2718 New Zealand dollars.

Benchmark crude oil closed UP $US2.36 at $US89.28 per barrel.

The Australia market is set to open HIGHER, with the SPI futures index UP 29 points at 4,408.

The benchmark S&P/ASX200 index on Monday GAINED 24.6 points, or 0.57 per cent, to 4,361.4, while the broader All Ordinaries index ROSE 22.5 points, or 0.52 per cent, to 4,382.6.

The spot price of gold is $US1,729.30, UP from Monday's close of $US1,722.69.