AAP

Oil prices have slipped as producers hinted at more output, while US stocks had their first loss in four sessions after a mixed bag of earnings reports.

Wall Street has suffered its first loss in four sessions after a mixed bag of quarterly reports and a warning by Verizon Communications that a strike by workers would likely impact its bottom line

The Australian dollar has plunged on the back of mixed economic data.

The suggestion Treasurer Mike Nahan threatened to quit if the privatisation of electricity utility Western Power was not contemplated has been shot down by the premier.

The share market has hit a new high for 2016 as energy and mining stocks continue to rally on higher commodity prices.

BHP Billiton spinoff South 32 has cut third quarter production at several businesses but remains on track to meet its full-year guidance across all its units.

Global miner BHP Billiton does not expect the current revival in iron ore prices, to a 10-month high of $US64.77 per tonne last night, to last long.

Construction giant CIMIC Group has reaffirmed its full-year guidance after it lifted first-quarter net profit 5 per cent.

Wesfarmers has flagged concerns that its discount retailer Target faces higher stock clearances and an ongoing decline in sales growth.

The Australian share market has opened higher.

Surging iron ore and commodity prices could maintain support for the Australian dollar and help it above the 78 US cent level.

Gold has steadied as a firmer tone to the US dollar has held gains in check, though silver extended gains to an 11-month peak, boosted by technical momentum and perceptions it is undervalued versus gold.

Oil prices have jumped as government data showed US crude stocks rose slightly less than expected last week, while the US dollar advanced against the euro ahead of a European Central Bank meeting.

Wall Street ended less than two per cent short of a record-high close as a rebound in oil prices added to optimism sparked by a raft of earnings reports.

A rally in iron ore prices has boosted the resources sector and pushed the share market higher.

Australia's corporate regulator will have a new commissioner with a special focus on prosecutions in the financial sector as part of a boost to its capabilities and funding.

BHP Billiton has cut its iron ore production target for the second time this year, on account of lower expected output at its operations in the Pilbara.

The Australian share market has opened sharply higher.

The S&P 500 climbed closer to a record high, lifted by energy stocks and a solid quarterly report from Johnson & Johnson.

Gold rose as much as two per cent, silver hit a 10-month high and platinum climbed to its highest in six months, as the US dollar weakened after US data came in below forecasts.

Rising oil, copper and iron ore prices have helped push the Australian dollar to a fresh 10-month high.

The Australian share market has closed higher, boosted by a relief rally based on higher oil prices.

The Reserve Bank says continuing low inflation could allow for a future rate cut if the jobs market needs a boost.

A report into Perth Lord Mayor Lisa Scaffidi's travel scandal is in its final stages and will be released publicly, Local Government Minister Tony Simpson says.

The Australian share market has opened higher.

The Dow Jones industrial average has climbed to a nine-month high in a market buoyed by Hasbro and Disney, as investors braced for a flurry of quarterly earnings reports through the week.

The Australian dollar has surged more than one US cent on the back of an oil price recovery.

Oil prices edged lower on Monday after producers failed to agree on a plan to curb global supply at a meeting in Qatar, while world stock markets rose and the Dow Jones industrial average closed above 18,000 for the first time since July.

Gold has steadied as the US dollar fell against a basket of major currencies, world stock markets edged higher, and oil prices pared earlier losses that had been triggered by the failure by oil producers to agree an output freeze.

The Australian share market closed lower, hurt by energy, mining and banking companies.

Qantas has been brought back down to earth by a major share sell-off in the wake of the airline's decision to axe plans to add flights.

The state government is making a mistake cutting tourism funding by more than $20 million at a time when it should be boosted to make up for the loss of the mining boom's riches, a national industry group says.