A collection of lacklustre earnings reports and in-line economic data have capped US stock gains, with the markets gaining no bump -- or loss -- from President Barack Obama's key policy speech.
The Australian share market closed at its highest level since 2008 as bank stocks soared on a better than expected profit from Commonwealth Bank (CBA).
The Dow blue-chip stock index has climbed back above 14,000 to a fresh five-year high as markets await President Barack Obama's State of the Union address.
The central bank will have to cut the cash rate again at some stage given the chronic low levels of business and consumer confidence, a leading business group says.
Australians are struggling to put money aside, while households are feeling less comfortable after having spent their carbon tax compensation allowances, a survey has found.
The S&P 500 punched to a new five-year high on Friday and the Nasdaq to its best since 2000, as stocks regained footing helped by a sharply narrowed US trade deficit.
The Australian dollar fell to its lowest level in more than three months after the central bank indicated the door is open for more interest rate cuts.
The Australian share market finished stronger near a 22-month high, as investors reacted positively to economic data from China indicating a rebound in activity.
The Reserve Bank of Australia has poured cold water on hopes banks will go it alone in 2013 and reduce lending rates without further official rate cuts.
US stocks rebounded from early sharp losses but finished down Thursday amid some earnings disappointments while Apple jumped after it said it was reviewing ways to return some of its $137 billion c
Prime Minister Julia Gillard is pressuring the coalition over its superannuation plans, even though Labor has declined to guarantee it won't change the treatment of retirement savings.
The Australian share market has closed higher on the back of a positive lead from the United States market and the prospect of a cut to interest rates.
