Wall Street has risen as Federal Reserve chairman Jerome Powell's optimistic view on the US economy and solid earnings from Dow component Johnson & Johnson lifted expectations of a robust second-quarter earnings season.
Australian shares have closed lower on Tuesday, with a sharp decline in global oil prices sending energy stocks down and weak commodities prices putting pressure on the broader market.
Perth-based Southern Cross Electrical Engineering has secured a number of new contracts across the country in the commercial, resources and telecommunication sectors.
Oil prices slumped more than four per cent, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers.
The S&P 500 has ended slightly lower following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America's results reinforced expectations of a strong US earnings season.
Australian shares fell nearly half a per cent on Monday, led by losses in healthcare stocks, while soft weekend property auction results undermined banks, whose business model relies heavily on home loans.
Mining services contractor Ausdrill has continued its board renewal, including the appointment of its first female director, just weeks after company founder Ron Sayers retired.
US stocks have risen slightly, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.
Australian shares have finished flat after a yo-yo final trading session of the week, which saw a retreat among the banks outweigh healthcare sector gains.
Gold edged higher as the US dollar eased off a six-month high against the Japanese yen, but bullion failed to gain traction as traders said US-China trade tensions so far were boosting the greenback instead of the precious metal.
Brent crude has strengthened, recouping some of its losses from the previous session as market focus returned to concerns about spare capacity following a warning from the International Energy Agency (IEA).
Strong showings from healthcare heavyweights and the major banks have propelled the Australian share market to its highest close for a decade after a nutty day of trading.
Australian shares have opened higher as strong gains from financial and consumer staple stocks more than offset materials and energy weakness from falling commodity prices.
Gold prices have slipped as US threat of tariffs on an additional $US200 billion of Chinese goods pushed safe-haven flows to the US dollar and dashed hopes that Washington would eventually step back from the escalating row.
Global benchmark Brent crude oil has had its biggest one-day drop in two years as escalating US-China trade tensions threatened to hurt oil demand, and news that Libya would reopen its ports raised expectations of growing supply.
US stocks have fallen, breaking a four-session streak of gains after Washington's threat to impose tariffs on an additional $US200 billion ($A270 billion) worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy shares.
Wall Street's S&P 500 index rose for a fourth session to post its highest close since February 1, the day before the market began a sharp extended selloff, as strong results from PepsiCo boosted optimism about the earnings season.
Gold prices have been weighed down by a stronger US dollar, and may re-test a seven-month low after a failed attempt to break higher in the previous session.
