AAP

Oil prices have steadied, boosted by a rebound in US equities, after earlier losses on fears about surging US crude production and a weakening global economy.

Commodity-based stocks have helped the ASX hit a new nine-week high, following the release of several encouraging earnings reports, while online retailer Kogan.com surged on strong Christmas trade.

Mining mogul Gina Rinehart retains her spot at the top of Forbes' Aussie rich list despite falling iron ore prices knocking her wealth down $US1.8 billion, to $US14.8 billion (down approximately $2.5 billion, to approximately $20.6 billion).

Prime Minister Theresa May has won a confidence vote in the British parliament and then appealed to MPs from across the political divide to come together to try to break the impasse on a Brexit divorce agreement.

Asian shares have crept higher as upbeat bank earnings bolstered Wall Street, while an anti-climactic end to the latest chapter in the Brexit saga gave sterling a moment's peace.

Palladium prices have risen to a record high on increasing demand and lower supply of the metal used in autocatalysts, while gold gained on expectations of a pause in the US Federal Reserve's rate hiking cycle.

Oil prices have steadied after a three per cent rise during the previous session, after data showed growing US refined product inventories and record crude production, which could undermine global efforts to support prices.

Wall Street's major indexes have hit one-month highs as strong earnings from Bank of America Corp and Goldman Sachs boosted investor sentiment.

Australian shares have largely avoided fresh Brexit vote drama to close the day higher, though mining shares weighed on the local market.

Consumer confidence has posted its largest monthly fall in more than three years, weighed down by a number of factors including the decline in house prices, global trade wars, and even the Australian men's cricket team.

The Australian share market has opened flat as market sentiment is pulled in opposite directions by optimism about a Chinese economic stimulus package, and pessimism about the UK House of Commons defeat of the Brexit deal.

Gold prices have eased as the US dollar rose and stock markets climbed, but further losses were capped by concerns over slowing economic growth and prospects of a pause in US interest rate hikes.

Oil prices are about three per cent higher, supported by China's plan to introduce policies to stabilise a slowing economy, reversing the previous session's losses due to grim data in the world's second-largest economy.

US stocks have risen, as hopes of more stimulus for China's slowing economy and a jump in Netflix shares helped investors look past disappointing earnings from JPMorgan and Wells Fargo.

The Australian share market has closed the day higher, boosted by signs from China the country is considering fresh measures to stimulate stuttering growth.

Wealth manager IOOF Holdings says its buyout of pension assets from ANZ Banking Group has been delayed by at least three months, as fallout from a damaging finance sector inquiry hits dealmaking.

Under-pressure retailer The Reject Shop says it expects half-year profit to match earlier guidance, but the firm circling for a takeover wants a clearer picture of the company's Christmas sales performance.

The Australian share market is subdued at the open after US stocks and most commodity prices fell on worries about Chinese economic growth.

Oil prices are down about one per cent, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.

Technology shares have pulled Wall Street lower after an unexpected drop in China's exports in December reignited worries of a slowdown in global economic growth.

Gold prices have risen as global stocks fell on data showing China exports unexpectedly fell, pointing to further weakening in the world's second-largest economy and prompting investors to seek safety in the precious metal.

Disappointing Chinese trade data has given Australia's mining and energy sectors a whack and kept the broader market flat after what promised to be a positive start to the week.

Wesfarmers is expected to make a profit of $2.1 billion to $2.3 billion from the November demerger of its Coles supermarket division, and $670 million to $680 million from the sale of its stake in the Bengalla coal mine.

Australian shares are trading slightly higher but energy stocks continue to weigh at noon, while shares in Wesfarmers are in the red after the retail giant announced a weak Christmas for Kmart.

Gold prices have edged higher as US stocks slipped and expectations rose that the US Federal Reserve might halt its monetary policy tightening cycle.

Oil prices have fallen nearly two per cent as investors worried about a global economic slowdown, snapping a nine-day winning streak spurred by US-China trade hopes, but clung to some gains from that rally to end the week higher.

The Australian share market hasn't been able to sustain its four-day rally despite strong retail sales figures, with banks and miners weighing on the bourse.

Western Australian university graduates have a tougher time finding full-time employment than the national median, according to the 2018 Graduate Outcomes Survey by the Australian Department of Education and Training.

Retail spending rose 0.4 per cent in November, beating market expectations, in a sign that Australians have well and truly embraced the Black Friday and Cyber Monday discount sales.

Asian stocks have inched upwards to one-month highs after US Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further.

Gold has slipped, holding below $US1,300 an ounce as the dollar bounced up off lows as investors pared back bearish positions on the US currency.

Oil prices are slightly lower in see-saw trade, easing the day after a strong rally as investors were no longer encouraged by US-China trade talks and as weak Chinese economic data dampened risk appetite.