Gold prices have eased but have notched a weekly gain as investors opted for the safe-haven qualities of bullion due to uncertainty about US and European politics as well as the direction of stock markets.
Australian shares fell as losses across healthcare, resource and energy companies offset gains in some banking and real estate stocks amid another batch of company earnings results.
The Australian share market has opened flat, as strength in the industrials and IT sectors bolsters local shares against falls on Wall Street overnight.
Capital gain tax splits CoalitionThe Coalition is split over whether to cut capital gains tax concessions for property investors, prompting Prime Minister Malco
Gold has risen as the US dollar has weakened following a 10-day winning streak and investors take the opportunity to buy bullion as a hedge against political uncertainty in the United States and Europe.
A big drop in Telstra shares following a disappointing half-year profit result has weighed upon a relatively flat Australian share market in another busy day of company earnings reports.
Wall Street pushed further into record-high territory, with the S&P 500 notching a seven-session winning streak, helped by a round of robust economic data and ongoing optimism that President Donald Trump will cut corporate taxes.
Budget crisis puts CGT in playThe Turnbull government is planning a crackdown on capital gains tax concessions for property investors to seize the mantle on housing aff
Gold has risen as the dollar comes off its highs, shrugging off earlier pressure from stronger-than-forecast US inflation and retail sales that added to expectations for near-term US interest rate rises.
Strong investor demand for financial stocks, thanks to Commonwealth Bank's record first-half profit, has pushed the share market to its highest level since mid-2015.
Morrison shrugs off iron bonusThe federal government will frame a May budget with tax increases or spending cuts to make up for its blocked omnibus bill, despite a pote
US stocks were little changed, with the "Trump rally" pausing ahead of a testimony by Federal Reserve Chair Janet Yellen that will be scrutinised for clues on the timing of the next interest rate hike.
The Australia share market is heading towards the key 5,800 mark, thanks to strong investor demand for resource, healthcare and financial stocks after Wall Street hit record highs.
Welfare cuts or taxes will fund NDISA threat by the Turnbull government to tie billions in welfare cuts to funding for the National Disability Insurance Support
The Australian dollar is lower against its US counterpart which has risen against a basket of currencies on re-ignited hopes of a US Federal Reserve interest rate rise.
Gold prices have slipped as the US dollar rises and global equities climb, but political and economic uncertainties in the United States and Europe are expected to provide support for now.
Oil has fallen by about 2 per cent, the most since mid January, as a stronger dollar and signs of rising US crude output pressured prices while an OPEC report showing high compliance with last year's production-cut deal underwhelmed investors.
Some encouraging company earnings reports, a positive lead from US markets and higher commodity prices have helped lift the Australian share market by about 0.7 per cent to its best close in a month.
The Australia share market has gained ground, thanks to investor demand for growth stocks, including Rio Tinto, BHP Billiton and Woodside Petroelum, after Wall Street hit record highs.
Property, health CEOs nudge out bankers, miners in top pay ranksExecutive pay growth has ground to a halt with most of the big bank bosses falling out of the top 10 mos
Oil prices have risen after reports that OPEC members deliver more than 90 per cent of the output cuts they pledged in a landmark deal that took effect in January.
Gold has steadied, but remains below this week's three-month top as the US dollar and Treasury yields came off their highs after the currency initially jumped on US President Donald Trump's promise of a major tax announcement.
Australian shares closed stronger, buoyed by record highs on Wall Street and investor hopes the local earnings season won't be as bad as initially feared.
