AAP

UPDATE: Republican former president Donald Trump has claimed victory in the US presidential election in a stunning political comeback.

US stocks closed higher overnight in a broad rally after data signalled a solid economy.

American stock indexes traded flat to lower as investors braced for a pivotal week for global markets in which the US will elect a new president.

Wall Street's major indexes ended higher on Saturday morning, rebounding from the previous day's sell-off as Amazon's strong earnings countered a significant drop in US job growth in October.

Major US stock indexes closed lower overnight after both Microsoft and Meta Platforms highlighted growing artificial intelligence costs that could hit their earnings.

US stock indexes closed lower overnight as chip stocks tumbled and investors awaited a host of corporate earnings.

The S&P 500 and Nasdaq closed higher overnight while the Dow fell in choppy trading as investors digested a host of corporate earnings and awaited Google-parent Alphabet's results after the market close.

Wall Street closed higher overnight ahead of a packed week of earnings from megacap companies and the final stretch before the US presidential election.

A pay rise for thousands of miners is in the sights of the prime minister, as unions urge heavyweights in the sector not to advocate the rolling back of workplace reforms.