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.
Diversified contractor Tempo Australia has announced it will acquire NSW-based telco services company Comsite Services in a deal worth up to $4 million.
Oil prices have gained, with US crude ending a choppy session higher on expectations for a Canadian production outage lasting until September, while global benchmark Brent gained on looming sanctions on Iran and falling output in Libya.
US stocks rose on Monday, giving the Dow and S&P 500 their biggest gains in more than a month, as bank shares jumped ahead of earnings reports later this week.
Southern Cross Electrical Engineering has been awarded a $55 million electrical instrumentation installation contract at the Westconnex M5 road project in NSW.
