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Trade-sensitive industrial stocks have led the Dow Jones Industrial Average to a record closing high, the last of Wall Street's main indexes to fully regain ground since a correction that began in January.
Oil prices eased, pulling back after US President Donald Trump urged OPEC to increase production at its meeting in Algeria, and slowing bullish momentum that had previously propelled the market toward four-year highs.
US oil futures surged nearly two per cent as they were bolstered by a fifth weekly crude inventory drawdown and strong domestic petrol demand amid ongoing global supply concerns over US sanctions on Iran that come into force in November.
Oil futures rose more than one per cent on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signaled an informal target near current levels.
US stocks have fallen, led by declines in technology and consumer discretionary stocks as investors looked to President Donald Trump's announcement regarding tariffs on $US200 billion of Chinese imports.
Oil prices were little changed as the market weighed deepening trade tension between the US and China that is expected to dent global crude demand and potential supply tightening due to Iran sanctions.
Strawberry tampering did not happen in Western Australia despite the discovery of sewing needles secreted inside a punnet grown in the state and exported to South Australia, according to Health Minister Roger Cook.
Australian shares are down at the open amid lingering uncertainty over US-China trade relations, while shares in the under-fire aged care sector are dragging on the market after the announcement of a royal commission.
National Australia Bank has tasked former NSW Premier Mike Baird with leading its retail unit after consumer boss Andrew Hagger decided to leave the bank following his mauling at the financial services royal commission.
The chief executive of a West Australian shire acted corruptly when he ensured his partner became the strategic planning manager and increased her salary by $24,000 over four years, a report has revealed.
Prime Minister Scott Morrison has guaranteed his government will deliver the GST distribution solution promised under Malcolm Turnbull's leadership before the next election, and will even consider legislation if necessary.