Wall Street's bull market seems intact for now as the US economy powers on, even after last week's spike in volatility following a war of words between the US and North Korea.

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Just when investors should be preparing themselves for the inevitable return of volatility, many have let their guard down.

The three major US stocks indexes snapped three days of losses, as investors bet on slower US rate hikes.

​Chinese iron ore futures fell nearly 5 per cent on Friday in a selloff triggered by a sharp retreat in steel prices.

A fifth straight miss on core-price forecasts adds to the burden on the Fed to explain the need for a third rate hike this year.

Australian investors dumped shares on Friday as geopolitical concerns swept through global financial markets and safe haven assets jumped.