The Dow Industrial Average has reached a record high after industrial companies gained on the back of relief that US-China tariffs are not as bad as feared.
Rising Treasury yields lifted the financial sector, boosting the S&P 500 and the Dow, but the Nasdaq ended the session slightly lower.
Wall Street has bounced back as investors shrugged off the trade tensions between the US and China despite a fresh round of tit-for-tat tariffs on both sides.
Australian shares have closed lower after US President Donald Trump announced the imposition of additional trade tariffs on China.
BHP chief executive Andrew Mackenzie received a $US100,000 pay rise in the last financial year, but missed out on a higher increase after two fatalities.
TPG Telecom has reported a 4.6 per cent drop in full-year profit to $396.9 million as it prepares for its merger with Vodafone Australia.
The Australian dollar has taken only a brief knock after Washington made good on past threats and announced tariffs on $US200 billion of Chinese imports.
Kathmandu's full-year profit surged by almost a third to $NZ50.5 million ($A46.3 million) after a big jump in Australian sales.
US stocks have closed lower as the market awaits President Donald Trump's announcement on the next round of tariffs on Chinese imports.
Australian shares close higher but the health sector continued to drag, following a royal commission being announced into aged care providers.