The Australian share market's five-day winning streak has come to end as the possibility of accelerated interest rate hikes in the US again spooked investors, and market heavyweight Telstra traded
The Australian share market has slipped in early trade, taking the cue from a sell-off on Wall Street, as the Federal Reserve chair's hawkish comments revived worries about US interest rate hikes.
The Australian dollar is nearly half a per cent lower against its US counterpart after new Federal Reserve chair Jerome Powell's congressional testimony sends the greenback higher.
Oil has seen its first decline in five days, pressured by a firmer US dollar and expectations that upcoming weekly data will show an increase in US crude inventories.
Australian shares are off to a bright start in early trade, buoyed by strong trade on Wall Street and possibly heading for a fifth straight day of gains.
Oil prices have risen, hitting three-week highs, supported by strong US demand and comments from Saudi Arabia that it would continue to curb production in line with OPEC-led efforts.
Gold prices have risen as a softer US dollar helped the metal rebound from its biggest weekly loss this year, but moves were muted before the debut congressional testimony by US Federal Reserve chair Jerome Powell later this week.
Australian shares have ended higher, with the benchmark index closing above 6,000 points for the first time since February 5, supported by solid company results and rising bank stocks.
Oil prices have risen to their highest in more than two weeks, supported by the shutdown of the El Feel oilfield in Libya and upbeat comments from Saudi Arabia that an OPEC-led effort to cut stockpiles is working.
Gold has eased, heading towards its biggest weekly decline in two-and-a-half months, as the US dollar climbed from last week's three-year low on the back of higher US Treasury yields.
The Australian share market has made solid gains after a strong lineup of company earnings results briefly drove stocks above 6,000 points on Friday before closing just shy of the mark and up 1.6 per cent for the week.
The Australian share market has posted a modest rise as big gains for Qantas, Crown Resorts and Nine Entertainment were partly offset by big ex-dividend retreats for AGL Energy and Woodside Petroleum.
The Australian share market looks set to open around half a per cent higher with Wall Street offering a positive lead despite some of its earlier strong gains ebbing closer to the close.
Oil prices are little changed ahead of data expected to show rising crude inventories in the United States and as the dollar has strengthened from last week's three-year lows.
Gold has dipped further, a day after its biggest daily slide in two-and-a-half months, but briefly bounced higher as the US dollar slipped for a short time after the release of minutes from the US Federal Reserve's January policy meeting.
The Australian share market inched higher as well received financial results from Wesfarmers and a2 Milk were countered by steep falls by heavyweight miners.
Woolworths' liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.
Australian shares are marginally lower in early trade as investors take cues from a decline on Wall Street and local corporate earnings weigh on sentiment.
