The US benchmark S&P 500 stock index has closed a touch lower as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth.
Oil prices have risen on signs of surging demand in China, the world's number two oil consumer, although prices were headed for a second weekly decline on swelling US inventories and concern that trade wars were curbing economic activity.
US stocks have fallen more than one per cent as the European Commission issued a warning regarding Italy's budget and concerns mounted over the possibility of strained relations between the United States and Saudi Arabia.
Full-time employment in Western Australia has hit a three-year high, as the latest data from the Australian Bureau of Statistics revealed a decline in the state’s jobless rate to 6 per cent in September.
Oil prices have fallen with US futures settling below $US70 a barrel for the first time in a month, after US crude stockpiles rose 6.5 million barrels, almost triple what analysts had forecast, while exports dropped.
Wall Street's major indexes have edged lower in a choppy session after the US Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had cause a major sell-off the week before.
Stocks across the world have bounced back, supported by strong earnings results and expectations, while oil prices rose as evidence of higher US production was overshadowed by concerns about supply from Iran and Saudi Arabia.
Oil prices have edged up in cautious trade as expectations of higher US shale output and inventories vied with worries that crude supply from the Middle East could be disrupted by looming US sanctions on Iran and growing tensions with top exporter Saudi Arabia.