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.
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 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.
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.
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.
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 liquidators of collapsed medical cannabis group Melodiol have zeroed in on controversial payments linked to banned director Adam Blumenthal in their hunt for potential recovery actions.
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.
