The Australian share market has opened lower as the key mining and bank stocks lose ground and as investors exercise caution ahead of next week's US interest rate decision.
US stocks have closed higher after a three-day decline but sharply pared gains late in the session as oil dropped to near seven-year lows and the strong US dollar weighed on sentiment.
US stocks have climbed but other major world equity markets were little changed ahead of a widely expected interest rate hike by the Federal Reserve next week, and oil resumed its slide over persistent worries about weak demand and a supply glut.
Gold futures prices have edged lower and are vulnerable to further weakness as the dollar rebounded and ahead of a widely anticipated US interest rate rise next week.
Deputy Premier Kim Hames will stand down from that role in February next year, but will remain as minister for health and tourism as he prepares for his retirement from politics at the 2017 state election.
Western Australia's unemployment rate has lifted 0.2 per cent in November to 6.6 per cent in seasonally adjusted terms and employment eased back from a record high, in contrast to strong employment growth in the rest of the country.
Gold prices have flattened, giving back earlier gains as oil prices fell and shrugging off support from the weak US dollar and shares as investors remained cautious ahead of an anticipated Federal Reserve rate rise next week.
US stocks have closed lower in a choppy session as oil resumed its decline and the S&P 500 index fell through a technical support level ahead of a Federal Reserve meeting next week that is expected to result in an interest rate hike.
The University of Western Australia is set to cut staff numbers by around 300 places next year in a bid to rein in costs and re-target resources to more competitive divisions.
Premier Colin Barnett has warned the state government's mid-year budget review would be 'horrible' as the state continues to suffer from a downturn in revenue.
US stocks have fallen after a choppy session as lower oil prices pressure energy stocks for a fifth day and weak Chinese trade data reignites fears of a global slowdown.
Gold has risen as the US dollar has receded slightly and stocks have fallen globally, though expectations that the US Federal Reserve will raise interest rates next week has kept gains in check.
The Australian share market has closed almost 1 per cent lower as a steep slide in oil prices and a weaker price for iron ore weighed on the energy and mining sectors.
US stocks have fallen, led by the S&P energy index's biggest one-day percentage drop since late August as oil prices slid to their lowest point in nearly seven years.
Oil prices have skidded to their lowest level in nearly seven years, hurting the shares of major oil companies on Wall Street as a global glut showed no signs of abating, while European stocks benefited from a weaker euro.
Gold has fallen more than one per cent from the prior session's three-week high, after the US dollar gained from Friday's upbeat US jobs data that reinforced expectations the Federal Reserve will raise interest rates next week.
Tax breaks for risk-taking businesses and a boost in science spending lie at the heart of a four-year $1.1 billion innovation package designed to drive an "ideas boom" in Australia.
