The ASX200 has slipped 0.4 per cent after investors punished mining stocks for a dip in commodity prices following underwhelming Chinese stimulus measures.
The ASX climbed for its third day in a row on hopes of stimulus from Beijing and a US central bank cautious when queried on the inflationary outlook under a second Trump presidency.
US stocks closed higher after the Federal Reserve announced an interest rate cut, extending a sharp rally sparked by Donald Trump's return as US president.
The local bourse has bounced around as traders digested the implications of former president Donald Trump's return to the White House for Australian companies.
The competition watchdog has approved the $8.8 billion merger of pharmacy businesses Chemist Warehouse and Sigma Health, after deciding it won't hamper consumer choice.
Wall Street's major indexes ended higher on Saturday morning, rebounding from the previous day's sell-off as Amazon's strong earnings countered a significant drop in US job growth in October.
The ASX200 has fallen 0.5 per cent after worrying earnings forecasts from US tech stocks and diminishing rate cut hopes in Europe dampened risk sentiment.
Major US stock indexes closed lower overnight after both Microsoft and Meta Platforms highlighted growing artificial intelligence costs that could hit their earnings.
The ASX200 has finished Thursday down 0.3 per cent to record its biggest monthly drop since April, with supermarkets Woolworths and Coles leading the fall.
The S&P 500 and Nasdaq closed higher overnight while the Dow fell in choppy trading as investors digested a host of corporate earnings and awaited Google-parent Alphabet's results after the market close.
Wall Street closed higher overnight ahead of a packed week of earnings from megacap companies and the final stretch before the US presidential election.
