Despite evidence that earnings outside the resources sector are slowing, the ASX has gained a solid 5pc in recent weeks on some very volatile trading.
Wall Street moves between gains and losses after the US central bank releases its meeting minutes, while Australian investors await some major company results and January jobs figures.
The Australian share market is eyeing gains at the start of trade, after a strong sales result from US retail giant Walmart helped lift Wall Street.
It has been a case of the good, the bad and the ugly on one of the busiest days in the ASX's February reporting season
The Australian share market looks set for a fairly muted start to trade, as investors await local earnings results from mining giant BHP, supermarket Coles and vitamin maker Blackmores.
The ASX December half results season has been far from a disaster, but there are signs of problems ahead.
A surprise slump in US pre-Christmas retail sales renews fears the world's biggest economy is joining a worsening global economic slowdown and sinks Wall Street.
With six Chinese companies delisted from the Australian Securities Exchange last year — for everything from failing to lodge accounts to concerns about whether funds were spent as promised — investors are being warned to exercise caution.
Wall Street rises again on renewed hopes the US and China can resolve their trade war, with reports China's President will himself meet an American delegation tomorrow.
New hopes of a breakthrough in the trade impasse between the US and China see global markets surge, while Wall Street also gets a boost from a potential deal to avoid another US Government shutdown.