US stocks ended Tuesday in mixed fashion after a stream of generally lacklustre earnings reports and a modest upgrade to the International Monetary Fund's economic forecast.
The Australian share market shook off a negative start to finish higher on Tuesday as strength among the major banks outweighed weakness in the resources sector.
The Australian dollar has hit fresh three-and-a-half-year lows amid concerns over China's shadow banking sector and growing strength in the US economy.
American Express's solid earnings has helped pushed the Dow higher but the broader market has fallen after a mixed batch of corporate earnings and economic reports.
The Australian dollar has dropped below 88 US cents for the first time since July 2010 after official labour force data showed almost 32,000 full-time jobs were lost in December.
US stocks have closed decisively higher following a batch of mostly solid economic and corporate earnings reports, and an upbeat Federal Reserve report.