AAP

US stocks have closed higher with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in tariff disputes between the United States and its trading partners China and Mexico.

Crude prices rose on Friday, but declined on the week on worries that oversupply would weigh on the US market while trade disputes and slowing global economic growth would dampen demand for oil.

Australian shares have closed higher and the benchmark index has established a fresh 10-year high as an easing in US-China trade worries underpinned a week of solid company results.

The next move for interest rates is up, but the outlook for jobs is good and a wage rise could be around the corner, says Reserve Bank governor Philip Lowe.

Evolution Mining has lifted full-year profit 21 per cent to $263.4 million, helped by the sale of its Edna May gold mine in Western Australia for $90 million.

Australian shares have opened subdued, , despite Wall Street rallying overnight, as weakness in materials and healthcare shares continues to weigh amid a cautious approach by investors.

US stocks have rebounded with the Dow posting its biggest percentage gain in over four months, as positive earnings and waning trade jitters buoyed investor confidence.

Oil prices rose slightly as global markets steadied, recovering some of the previous day's two per cent slide, though a weakening outlook for crude demand kept prices in check.

Australian shares have closed flat, despite strong individual performances from Telstra, Treasury Wine Estates and QBE as materials and energy stocks came under pressure.

The state’s unemployment rate has declined for a fourth straight month, after the economy added about 13,000 full-time jobs in July, according to the latest figures from the Australian Bureau of Statistics.

Origin Energy has more than doubled underlying profit on the back of improved performance in its retail and gas production operations, and signalled a return to dividend payouts in the current financial year.

Markets operator ASX Limited has posted a 2.5 per cent lift in full-year net profit to $445.1 million with a strong contribution from its listings service, capital raisings and futures trading.

Telstra's shares have hit their highest price since May, despite the telco giant reporting a full-year profit drop of 8.4 per cent to $3.56 billion.

US stock indexes have fallen in a broad-based decline, hurt by concerns over the strong US dollar and Turkey's currency crisis, as well as the trade tensions with American trading partners that have dominated the first half of 2018.

Australian shares have hit a fresh 10-year high, with a surge in CSL stocks and gains for Wesfarmers helping the market overcome falls in energy and materials stocks.

Wesfarmers has suffered a 58 per cent drop in full-year net profit after taking more than $1.3 billion in costs and losses on its disastrous Bunnings UK exit and a $300 million write-down on underperforming Target, while also announcing leadership changes at its department stores.

Western Australia continues to have the slowest nominal wages growth in Australia, with the latest data showing growth of 1.5 per cent, slightly ahead of local inflation at 1.1 per cent.

Woodside Petroleum has further fleshed out its plans for the Scarborough and Browse LNG developments, as it reported a 6.7 per cent lift in half yearly profit.

Australian shares have started lower, despite overnight gains on Wall Street, weighed down by declines in resources and a number of blue-chips trading ex-dividend.

Wall Street's three major indexes have risen with the S&P 500 posting its strongest gain in three weeks as a string of healthy earnings boosted investor optimism and a rebound in the Turkish lira eased fears of a broader financial contagion.

Oil prices have edged lower, weighed down by a strengthening US dollar as investors remained concerned about the financial crisis in Turkey.

Opposition leader Mike Nahan insists he'll lead the Liberals to the next state election and says he has the overwhelming support of his colleagues, rejecting reports confidence in him is wavering.

Australian shares have risen, with banks leading near across-the-board gains and an easing in investor concerns over the tension between the US and Turkey.

Oil prices have fallen after data suggested inventories at the US crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand.

US stocks have dropped as global jitters from Turkey's plummeting currency spread to Wall Street, with the S&P 500 and the Dow falling for the fourth session in a row.

Australian shares have continued to slide in lines with declines on Wall Street and Asian markets as trade worries and the Turkish lira's plunge dominate markets, while the Aussie dollar is again under pressure and under 73 US cents.

The board of APA Group has accepted a $12.98 billion takeover offer from a consortium led by Hong Kong's CK Infrastructure (CKI), in a deal that will see major gas pipelines in WA sold to a new owner.

Australian shares have opened lower, dragged down by weakness in the financials and consumer stocks, in line with the weak finish on Wall Street on Friday.

Crude oil prices rose more than one per cent on Friday as US sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline as investors worried that global trade disputes could slow economic growth and hurt demand for energy.

US stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank shares and triggered a move out of riskier assets.

Australian shares have suffered a late slide with energy and materials stocks falling, while the Aussie dollar has hit its lowest level since January, 2017, as worries about eurozone bank stability trigger a risk-off flight to the greenback.

Rio Tinto is exploring a public listing of its Iron Ore Company of Canada business, banking and industry sources say, as it focuses on boosting revenue from its flagship Australian assets.