US stocks have edged higher the day before new Federal Reserve chief Janet Yellen gives her premier testimony to Congress, with attention focused on how she views recent employment weakness.
The Australian share market has closed higher in the wake of a positive lead from US markets, but investor focus is set to shift more towards the domestic company reporting season.
US stocks have recovered from an early-week swoon to close the week with net gains, picking up enough momentum mid-week to override Friday's disappointing US jobs report.
The share market has bounced back after three straight days of losses, rising by more than one per cent as international investors were encouraged by a rising Australian dollar.
The Australian sharemarket has suffered its heaviest one-day losses since August, with spooked investors reacting to a sharp fall in US manufacturing activity growth.
US stocks have fallen more than two per cent after a surprisingly weak US manufacturing report sparked another round of selling amid concerns about the strength of the global economy.
Africa-focused mining companies are suffering under the weight of higher costs and lower productivity, with the value of some companies halving over the past year.
Unease over emerging markets dominated a busy week of economic and corporate news, pushing stocks lower for a second week in a row and resulting in losses for January.
Fewer Australians are able to put away savings each month and more people are anxious about finding a new job within a couple of months if they need to, a survey has found.
Australian stocks are lower after the US Federal Reserve's decision to further taper its stimulus program added to investor concerns about the decline in emerging markets.
