The Dow and the S&P 500 have bolted to new records after the European Central Bank launched aggressive measures to stimulate fragile eurozone growth and avert deflation.
US stocks have risen, pushing the S&P 500 to a record close, following mixed economic data a day ahead of the closely watched meeting of the European Central Bank.
The Australian share market has closed lower as investors shrugged off better-than-expected headline economic growth figures and decided to take profits ahead of a key European Central Bank meeting on Thursday.
Wall Street stocks have retreated from Monday's records as investors looked ahead to Thursday's European Central Bank meeting and Friday's monthly US jobs report.
The Australian share market has closed lower as weaker than expected retail figures and uninspiring commentary from the Reserve Bank of Australia weighed on investor sentiment.
The Australian share market has opened slightly lower as weak iron-ore prices and concerns China's softening economy overshadows Wall Street's new highs.
The Australian dollar hit an almost two week high after official data showed business investment intentions for the coming financial year are getting stronger.
Suncorp boss Patrick Snowball is determined to keep the financial services group's problematic life insurance business despite it facing a $500 million writedown.
Italy has led Europe's stock markets in a robustly positive reaction to elections which have put conservatives in a leading position but given anti-EU forces a huge boost in France and Britain.