Finance news you need to know today

US PRESIDENT Donald Trump has challenged Australia and other nations to come up with a better climate deal than the Paris accord.

THE Australian market looks set to open higher, following the lead of Wall Street where each of the major indexes notched record highs after a batch of economic data suggested the US economy was picking up speed. At 0700 AEST on Friday, the share price futures index was up 17 points, or 0.3 per cent, at 5,770.

Meanwhile, the Australian dollar is sharply lower against a strengthening greenback after local capital expenditure figures and Chinese manufacturing data disappointed. The local currency was trading at 73.73 US cents at 0700 AEST on Friday, from 74.07 on Thursday.

ELSEWHERE:

LOS ANGELES — US president Donald Trump has challenged Australia and other nations to come up with a better climate deal than the Paris accord.

NEW YORK — US stocks remained higher on Thursday as investors turned their focus to the monthly employment data on Friday, after better-than-expected private sector hiring pointed to strength in the labour market.

LONDON — Oil prices rose on Thursday, lifting energy company shares, on expectations the United States will withdraw from a global pact to fight climate change, while China’s yuan shrugged off weak factory data to hit a seven-month high against the dollar.