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Oil prices have slipped, continuing a recent slide after surging US crude output hit another record and domestic inventories rose more than expected.

Wall Street is set for a modestly firmer open on Wednesday and global stocks rose after significant US election gains for the opposition Democrats, but the outcome may rule out further tax cuts, sending the dollar and Treasury yields sharply lower.

Gold pared some gains overnight but held firm as the dollar slid after the US midterm elections delivered a split Congress and as investors looked ahead to a Federal Reserve meeting for signals on future interest rate hikes.

Cooper & Oxley debts rise to $45m

Gold fell as US equities and the dollar firmed ahead of the outcome of congressional elections in the United States, denting the precious metal's appeal.

Wall Street's major indexes have closed higher as voters headed to the polls in US midterm congressional elections and investors hoped the result would provide some relief for stocks after prolonged uncertainty.

Oil prices have fallen further, with US crude futures sliding to an eight-month low, a day after Washington granted sanction waivers to top buyers of Iranian oil and as Iran said it had so far been able to sell as much oil as it needs to sell.

The state government is set to receive nearly $190 million by selling its stake in online settlements company Property Exchange Australia.

Pindan has secured a state government contract as part of a project to build a new headquarters for the WA branch of the Returned and Services League on St Georges Terrace.

Payne’s trip ends Chinese freeze

Oil prices were mixed after a steep five-day fall, as the United States formally imposed punitive sanctions on Iran but granted eight countries temporary waivers allowing them to keep buying oil from the Islamic Republic.

The S&P 500 has risen with boosts from financial, energy and defensive sectors as investors showed some caution on the eve of US congressional elections.

Gold inched lower as investors took some profits following a recent rally, but the metal traded within a narrow range as caution set in ahead of the US congressional elections.

Backpackers and other visitors on working holidays will be able to stay in Australia longer under a federal government plan to help farmers fill job shortages.

Treasurer injects $60m into bank watchdog

Concerns that a trade deal between the United States and China may not be imminent have reined in a rally in world equity markets and reversed gains on Wall Street.

Gold has slipped as the US dollar regained some ground on the back of strong American jobs data, putting the metal on track for its first weekly loss in five weeks.

A new report has cast doubt on Western Australia's suitability as a lithium battery-making hub, claiming low labour productivity, distance from major markets and difficulties sourcing the necessary material as barriers to any potential development.

International tourists spent nearly $250 million less in Western Australia during the 2018 financial year than during the previous 12 months, new data from Tourism Research Australia shows.

Opinion: A Committee for Perth report says the WA capital has dropped the ball, and lacks a strategy for its economic future.

Data stolen in cyber-attack on shipbuilder

Oil has fallen nearly 3.0 per cent, with US crude futures hitting lows not seen since April, due to growing concerns that global demand is weakening at a time when output from the world's major oil producers is surging.

US stocks have risen for a third straight session as President Donald Trump said trade talks with China were "moving along nicely," reviving hopes that the two countries can resolve their trade dispute.

Gold rose nearly 2.0 per cent overnight, bouncing off a three-week low touched in the previous session as the dollar fell sharply from recent highs, making the metal cheaper for holders of other currencies.

A national study by Infrastructure Australia has found that Perth residents are among those least likely to use public transport for their daily work commute, despite good accessibility in outer suburbs and subsidies covering about 70 per cent of the cost of a trip.

Opinion: Why not align private sector tax cuts to cost-effectively improving the performance of education and health?

Offshore drilling ‘is a national priority’

Oil prices have fallen and posted the worst monthly performance since mid-2016 on evidence of rising global crude supply, but losses were limited by signs of strong US demand for fuel.

Gold has fallen to a near three-week low as the US dollar scaled a 16-month peak and a stock market rebound stirred renewed appetite for riskier

Perth’s annual inflation rate has hit its highest mark in nearly three years, driven by rising electricity prices in the September quarter, according to the latest data from the Australian Bureau of Statistics.

The federal government today launched a new wage subsidy trial targeting apprenticeships in rural and regional areas, which will invest $60 million across a range of trades

WA in $290m project pitch