AAP

The local share market has suffered its worst loss in four weeks, dropping 1.3 per cent after Fitch Ratings downgraded the United States' credit rating.

US stocks have closed mostly lower as investors digested mixed earnings from pharmaceutical companies.

The local share market finished up 0.5 per cent after the Reserve Bank left interest rates unchanged at 4.1 per cent for a second consecutive month.

Rare earths from Western Australia will be processed in Texas for defence and industrial needs under an updated contract with the United States government.

The local share market finished the day up 0.1 per cent, finishing July with its best gains since January.

Falling demand in North Asia for elements used in industrial magnets, electric cars and defence technology have taken the shine off a production record for Lynas Rare Earths.

US stocks ended the week higher as investor confidence that inflation is easing continued to grow.

More and more Australians are being forced to cancel or postpone holiday plans as cost of living pressures bite.

The local share market has fallen 0.7 per cent as Japan's central bank loosened its attempt to control bond yields, but has gained 1.2 per cent for the week.

Two senior American officials have arrived in Australia for the AUSMIN talks and will be hosted by the prime minister to discuss security and foreign affairs.

The local market has risen 0.73 per cent after Federal Reserve chair Jerome Powell said it was possible the central bank might keep rates on pause in September.

Lithium major Allkem is eyeing a tight market for battery minerals as it posts a significant improvement in the grade of ore recovered in Western Australia.

Australian shares have climbed as traders bet a smaller-than-expected rise in consumer prices would keep rates on hold.

US stocks have closed higher ahead of earnings reports from Alphabet and Microsoft and also a rate decision from the country's central bank.

The local share market has finished up 0.5 per cent, with the mining sector rising 2.7 per cent in its best single-day performance since March 2.

Newcrest Mining missed its copper production guidance and faced higher production costs in the June quarter, a result one analyst calls "weak."

The Dow Jones Industrial Average has led Wall Street higher and notched its longest winning streak in six years as investors bet on sectors beyond technology in a week filled with earnings reports and a Federal Reserve meeting.

The local share market has finished down 0.1 per cent ahead of crucial domestic inflation and retail sales readouts and a likely US rate hike.

Giving casual workers the right to become permanent employees will not affect business profits, the employment minister says, as the federal government seeks to shake up industrial relations laws.&

Traders have taken something off the table, sending the local bourse lower on Friday but up for the week ahead of key events next week.

Treasurer Jim Chalmers has described the latest jobs figures as a "good surprise" despite fears low unemployment could fuel further interest rate hikes.

Mining giant BHP has warned of cost pressures and uncertain international economic conditions in the year ahead.

The local bourse lost steam to close essentially unchanged after better-than-expected employment data increased the odds of another rate hike.

The official labour data has proved resilient but is expected to start responding to worsening domestic economic conditions later in the year.

The ASX rose 0.55 per cent after weak US retail sales data raised hopes that the Fed's expected rate hike in July might be its last.

Tools like ChatGPT could add tens of billions of dollars to the Australian economy by swallowing up repetitive manual tasks and making workers much more productive.

The local share market has finished down 0.2 per cent after Reserve Bank minutes indicated the central bank might hike rates in August.

As a parliamentary inquiry examines conflicts of interest in the consulting industry, Greens senator Barbara Pocock says firms are still not being honest.

The local share market has finished down ever so slightly as traders digested weaker-than-expected second-quarter gross domestic product figures from China.

Large consultancy firms should be broken up to reduce conflicts of interest, the former head of the consumer watchdog has told an inquiry.

The ASX rose 0.8 per cent to end its best week since November after another dove bearing soft US inflation data signalled the end of rate rises is nigh.

Philip Lowe will leave his post as head of the Reserve Bank, with Michele Bullock the first woman picked to lead Australia's central bank.