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US stocks have ended a low-volume trading session little changed, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.

Western Australia’s unemployment rate has increased by 0.1 per cent taking it to 6 per cent in March, making it 1 per cent higher than the national average of 5 per cent.

The state government will outlay $131.5 million of additional funds for the Department of Primary Industries and Regional Development (DPIRD) in the upcoming budget.

Crude have prices declined slightly as US government data showed inventories drew down less than an industry report had suggested on Tuesday.

Gold has fallen again, holding near the 2019 lows touched in the previous session, as economic growth data from China assuaged concerns about global growth and drove investors into riskier assets.

US stocks have ended slightly lower as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.

Huawei deputy chair Ken Hu has argued that moves by western countries to stop the Chinese company participating in rollout of next generation telecommunications technology will reduce competitive tension in the sector and hold back innovation.

Oil prices rose one per cent overnight as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains.

Gold has dropped one per cent to its lowest level of 2019, as a string of robust economic data boosted demand for riskier assets like equities while bullion was further weighed down by gains in the US dollar.

US stocks have ended slightly higher, with the S&P 500 inching closer to its all-time high following a string of mostly positive earnings, while a drop in healthcare shares limited the advance.

Oil prices have halted their rally, with both benchmarks down nearly one per cent, after Russia's finance minister said Russia and OPEC may decide to boost production to fight for market share with the United States, where output remains at record highs.

Gold fell to its lowest in more than a week as hopes the United States and China would reach a trade deal lifted appetite for riskier assets even as the dollar retreated.

Oil prices have risen one per cent as involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand.

Gold prices have inched lower, having posted the biggest daily decline in two weeks in the previous session, as the impact of a weak dollar was offset by gains on Wall Street.

OPINION: Both sides of politics are promising tax cuts ahead of the upcoming federal poll amid slowing global economy and sluggish consumer spending.

Labor leader Bill Shorten says Department of Treasury costings showing his tax plan will cost an extra $38.7 billion a year for the next decade are wrong.

Oil prices fell overnight after sources said OPEC may raise output from July if Venezuelan and Iranian supplies fall further and prices keep rallying.

Gold prices fell more than one per cent overnight, slipping below the key $US1,300 level as robust economic data from the United States boosted the US dollar, taking the sheen off the safe-haven metal.

WA’s business lobby has blasted state government plans to shake up the industrial relations system, and called for residual workplace powers to instead be handed to the Commonwealth.

Housing industry players have identified some key issues facing the housing sector, while criticising Labor’s plan for negative gearing.

Scott Morrison has put the economy at the centre of his pitch to voters, saying they need to keep him as prime minister because "now is not the time to turn back" to Labor, after he announced a May 18 date for the federal election.

Battling Western Australians may shift their votes from the Liberal Party of Australia to the Australia Labor Party at the looming election, wooed by Labor's policies on wage growth and penalty rates.

Oil futures climbed more than one per cent overnight after US data showing a deep decline in petrol stocks overrode a rise in crude inventories to 17-month highs, and as an OPEC report showed further tightening of Venezuela's crude supply.

Gold prices rose overnight, lifted to their highest in almost two weeks as investors fretted about the global economy and trade tensions and as the European Central Bank and the US Federal Reserve showed signs that monetary policy will remain accommodative.

Inequality is rising but conventional wisdom on addressing it may need a shake-up, according to University of Western Australia economics lecturer Jakob Madsen.

The global economy is slowing more than expected and a sharp downturn could require world leaders to coordinate stimulus measures, the International Monetary Fund says.

Oil prices edged lower overnight, slipping off five-month highs after the International Monetary Fund cut its global economic growth forecasts and as the Russian government signalled it may retreat from its production-cutting deal with OPEC.

Wynn Resorts has abruptly ended talks over its $10 billion takeover proposal for Crown Resorts, blaming the Australian casino operator for revealing the potential deal too early.

Gold rose to its highest in more than a week overnight as the US dollar and equities weakened after the International Monetary Fund cut its global economic growth forecasts for the year, with increased buying by central banks lending further support.

The federal government has pledged $17.2 million in funding for Rottnest Island, while the state government also announced today it would inject $16.2 million into the holiday destination.

Gold rose 1 per cent overnight to briefly breach $US1,300 an ounce and remained at its highest in more than a week as the US dollar slipped and a recent equities rally paused.

Oil prices rose up to 2 per cent overnight, hitting five-month highs, on expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and US sanctions against Iran and Venezuela.