* U.S. Democrats win both Senate seats in Georgia elections
* Australia pulls forward cabinet meeting amid virus fight
* Energy stocks benefit from robust oil prices
By Soumyajit Saha
Jan 7 (Reuters) - Australian shares rose in early trade on Thursday, tracking strong performances on the Dow and the S&P 500, as investors bet on hopes that a Democratic sweep in Georgia would lead to further stimulus in the world's largest economy.
The S&P/ASX 200 index .AXJO rose as much as 1.5% to 6,707.6, notching its best intraday session since Nov. 11, 2020. The benchmark closed 1.1% lower on Wednesday.
Overnight, Democrats took control of the U.S. Senate as they won both seats in runoff elections in Georgia state, boosting the prospects for President-elect Joe Biden's ambitious legislative agenda. home, Prime Minister Scott Morrison said the national cabinet will meet a month earlier than scheduled as Australian authorities seek to stop the spread of a more contagious variant of COVID-19 that emerged in Britain. miners .AXMM jumped 3.1%, with heavyweights BHP Group BHP.AX and Rio Tinto (LON:RIO) RIO.AX surging 4.5% and 3.8%, respectively.
Energy stocks .AXEJ rose 2.5%, benefiting from robust oil prices after production cuts by Saudi Arabia and a fall in U.S. crude inventories. O/R
Gas explorers Woodside Petroleum WPL.AX and Santos Ltd STO.AX advanced 3.3% and 4%, respectively.
Financials .AXFJ were also trading higher, with the so-called 'Big Four' banks gaining as much as 2.6%.
Gold stocks .AXGD fell 1% as prices of safe-haven bullion suffered against a stronger dollar as U.S. Treasury yields surged. GOL/
The country's top independent gold producer Newcrest Mining NCM.AX lost 1%.
The number of issues on the ASX that advanced were 877, while 534 declined.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 1.3% to 13,510.9, buoyed by financial and utility stocks.
The country's main bourse operator NZX Ltd NZX.NZ rose 2% after posting strong trading figures for the month of December.