AAP

Australian shares have fallen for a fourth straight session, as CommBank led the big banks lower, eclipsing a broadly positive session elsewhere.

Commonwealth Bank turned a $2.7 billion cash profit in the March quarter, up four per cent from a year ago but down one per cent from its first-half quarterly average.

The S&P 500 and ‌the Nasdaq closed lower, easing from record highs as hotter-than-expected inflation data.

Lingering conflict in the Middle East could cause Australia's economy to contract and unemployment to spike to pre-pandemic levels, Treasury warns in the nation's fiscal blueprint.

Young people entering the housing market face such difficulties that the government needs to break a election promise on controversial tax changes, Treasurer Jim Chalmers insists.

Treasurer Jim Chalmers, Prime Minister Anthony Albanese and Finance Minister Katy Gallagher have released a video online to confirm tax changes for property owners.

Australia's share market has wobbled ahead of the federal budget, as investors brace for tax reforms expected to impact returns on housing and stocks.

Regional voters turning to One Nation believe the party is the only one "fighting" for them, coalition politicians say, as the conservative alliance continues to reel from losing a key seat in a by-election.

US stocks have closed slightly higher, with AI optimism fuelling upward ‌momentum even as the earnings-driven fervour of the recent rally eased in the home stretch of reporting season.

The local share market has slipped after the US rejected Iran's latest peace proposal to end the Middle East war, and as a huge plunge by a prominent biotech name weighed on the bourse.

The upcoming federal budget will be one of reform, the prime minister has insisted, despite accusations of broken election promises.

The S&P 500 and the Nasdaq notched record highs on Friday, boosted by gains in Nvidia, Sandisk and other AI-related stocks, ‌while a stronger-than-expected jobs report pointed to labour market resilience.

About $43 billion has been wiped from Australia's share market, as oil prices surged after fighting between the US and Iran loomed over hopes of a peace deal.

Macquarie Group has beaten expectations with a $4.8 billion annual profit, half of which the investment bank will return to shareholders.

Former foreign minister Julie Bishop has resigned as chancellor of one of the nation's most prestigious universities, effective immediately.

The S&P 500 has ended lower, with ‌Intel and other chip stocks retreating after a recent rally while uncertainty around US-Iran peace talks weighed on the wider market.

Australia's share market has lifted for a second straight session on hopes the US and Iran can strike a deal to end the conflict in the Persian Gulf.

The S&P 500 and the Nasdaq have surged to record-high closes, buoyed by signs of a resolution in ‌the Middle East conflict.

Australia's share market has rebounded on signs the US is seeking a way out of the Persian Gulf conflict with Iran.

Fortescue chair Andrew Forrest has intensified his criticism of the fuel rebate scheme, saying it is preventing the broader mining industry from embracing electrification and clean energy.

Australia's onshore fuel reserves will be expanded to at least 50 days under a $10 billion energy and fertiliser security package set to "future-proof" supply in the face of global shocks.

The S&P 500 and Nasdaq have notched record high closes, ‌lifted by Intel and other AI-related stocks, as a US-Iran ceasefire held firm and investors focused on strong quarterly earnings.

Australia's share market has pared back some early losses after falling to its lowest level in a month, with a Reserve Bank rate hike and the ongoing Persian Gulf conflict gutting investor confidence.

Wall Street has ended lower, with the S&P 500 retreating from ‌record highs, after a South Korean ship was hit by an explosion in the Strait of Hormuz and Iran demonstrated its grip on Middle East oil.

Australia's share market has started the week lower, pulling back ahead of the Reserve Bank's interest rate decision and as traders weigh developments in the Persian Gulf.

Geopolitical tensions driven by the Middle East crisis and high fuel prices have created a volatile macroeconomic environment, Australia's biggest business bank says.

A $2 billion investment in housing promises to ensure young people have the opportunity to buy a home, with 34,000 new dwellings to be built.

The S&P 500 and the Nasdaq have advanced to record closing highs, boosted by ‌robust earnings and a dip in crude prices.

Australia's share market has broken its worst losing streak since 2018 as oil prices eased from four-year highs and strong US earnings boosted investor sentiment.

The Australian bourse has continued its losing streak into its eighth-straight day as oil prices rocketed and the realities of a prolonged energy shock hit home for Woolworths and other exposed businesses.

Australian shares have fallen for a seventh straight session as sticky inflation made worse by the Middle East energy crisis rose to its highest rate in three years.

Investors will be watching the banks' provisions for bad debts when ANZ, NAB and Westpac report their half-year earnings in the coming days.