The Australian share market has dropped at the open, with Wall Street proving a poor ballast as uncertainty swirls in the wake of the Wentworth byelection.
The US benchmark S&P 500 stock index has closed a touch lower as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth.
Oil prices have risen on signs of surging demand in China, the world's number two oil consumer, although prices were headed for a second weekly decline on swelling US inventories and concern that trade wars were curbing economic activity.
Oil prices fell as investors' concerns returned to the impact an escalating trade row between China and the United States will have on oil demand growth and data showing ample supplies.
US stocks have fallen more than one per cent as the European Commission issued a warning regarding Italy's budget and concerns mounted over the possibility of strained relations between the United States and Saudi Arabia.
Gold has risen overnight as renewed weakness in global stock markets spurred investors to seek refuge in bullion, which has also been helped by an improved technical outlook.
Banking and telco stocks have lifted the Australian share market to close slightly higher despite lower commodity prices weighing down the energy and materials sectors.
The energy and mining sectors are offsetting early gains for infotech and financial stocks, while a choppy overnight session on Wall Street has also kept the ASX subdued at the open.
Wall Street's major indexes have edged lower in a choppy session after the US Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had cause a major sell-off the week before.
Oil prices have fallen with US futures settling below $US70 a barrel for the first time in a month, after US crude stockpiles rose 6.5 million barrels, almost triple what analysts had forecast, while exports dropped.
Gold prices have edged lower as the US dollar strengthened after minutes from the Federal Reserve's September meeting cemented expectations for more interest rate hikes by the US central bank.
The Australian share market has closed more than one per cent higher for the first time in four months, buoyed by banking stocks after a surge on Wall Street overnight.
The corporate watchdog has banned a Perth woman from providing financial services, months after she was jailed for six years for stealing more than $1 million from a local building company.
The Australian share market has plugged into Wall Street's overnight surge to lift at the open, gaining nearly one per cent with help from banking, energy and healthcare stocks, however the resources sector has lost some of its lustre.
Gold has held steady at near two and a half month highs as dollar weakness offset improved risk appetite among investors, reflected in recovering global stock markets.
Oil prices have edged up in cautious trade as expectations of higher US shale output and inventories vied with worries that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.
Stocks across the world have bounced back, supported by strong earnings results and expectations, while oil prices rose as evidence of higher US production was overshadowed by concerns about supply from Iran and Saudi Arabia.
The state government has today announced the appointment of chief scientist Peter Klinken as chair of both Lotterywest and Healthway, continuing the gradual integration of the two organisations.
The banking and resources sectors are recovering after a day on the slide, with the heavyweight stocks lifting Australian shares at the open and away from a six-month low.
US stocks have fallen at the open as an increase in tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of tariffs, following the main three indexes' biggest weekly declines in over seven months.
Gold has risen to its highest level in two and a half months as a slide in global stock markets, exacerbated by mounting tensions between Western powers and Saudi Arabia, forced investors to find safety and unwind some bearish bets in the metal.
