AAP

Australia's share market has fallen for a fourth-straight session, with banks and miners weighing heavily on the bourse as the Persian Gulf conflict dims the global economic outlook.

US stocks have fallen in choppy trading as hopes dimmed ‌for a quick end to the Iran war while investors grappled with a mixed bag of earnings reports as concerns resurfaced about AI-driven disruption across the software sector.

Resurgent oil prices have helped push Australia's share market lower for a third straight session as the US and Iran escalate their respective shipping blockades.

House prices for homes under thresholds for a five per cent deposit scheme are outstripping increases for all other homes.

Microsoft will make one of the largest investments in Australia's artificial intelligence industry, pledging to spend $25 billion over three years to boost data centres, job training and cybersecurity defences.

US stocks climbed on Wednesday to send the S&P 500 ‌and Nasdaq to closing records, after President Donald Trump extended the ceasefire with Iran, with a round of solid corporate earnings providing additional support for optimism.

The local share market has suffered its worst loss in more than a month on fears the Middle East conflict could delay US interest rate cuts.

Higher levies on gas exports risk weighing on domestic supply and pushing up prices for local users, the head of a major producer warns.

Health Minister Mark Butler has revealed the changes to the $50 billion scheme, which could shed 160,000 participants under new eligibility rules.

Extra diesel shipments have been secured for Australia as the prime minister prepares to meet state and territory leaders to discuss fuel security measures.

US stocks have closed lower, with early ‌gains evaporating as renewed concerns about the Middle East war outweighed initial optimism over a round of solid corporate earnings.

The Australian share market has finished little changed for a third straight session amid a looming US-Iran ceasefire deadline and continued tensions over control of a crucial maritime oil choke-point.

State officials will be briefed on the federal government's plans to overhaul spending on the NDIS, expected to be announced within days.

US stocks have closed slightly lower, with each of the three major indices coming off a third straight week of gains, as renewed US-Iran tensions put the durability of a ‌two-week ceasefire in question.

Australia's share market has ended the session slightly higher despite an escalation of tensions in the Persian Gulf boosting oil prices and dragging on risk sentiment.

Business groups have urged the government to cut a raft of regulations ahead of the federal budget, but the finance minister says changes have to make sense.

Australia's share market has crimped a three-week win streak despite market optimism the US-Iran conflict could be partially resolved in the near term.

UPDATED: Details of alleged war crimes by Ben Roberts-Smith, including using a grenade to cover up the murder of two Afghans, have been revealed after he was given bail.

Australian farmers will receive an additional 250,000 tonnes of fertiliser from Indonesia, as the conflict in the Middle East continues to squeeze supplies.

Australia won't increase its fuel-security measures despite a fire wiping out nearly half of petrol production at one of the country's only refineries, the prime minister says.

The US stock market ticked to another record high Thursday as Wall Street waits for more clues about what will happen in the Iran war before making its next big move.

Weak performances from major banks, gold stocks and mega miners have dragged the bourse lower despite hopes of de-escalation in the Middle East boosting the Australian dollar to four-year highs.

The federal government has announced a streamlined border import process for fertiliser as the Middle East conflict continues to put pressure on supplies.

Australia's unemployment rate has held steady at 4.3 per cent despite the Iran war raising fears of a global recession and mass job lay-offs.

Petrol production has been disrupted at one of Australia's two oil refineries while a "ferocious" fire continues to burn out of control at the plant.

The US stock market hit a record Wednesday after adding to its two-week rally built on hopes the war with Iran won't create a worst-case scenario for the global economy.

Australia's share market has pared early gains for a relatively flat finish after hopes of easing US-Iran tensions came up against weakness in some of Australia's largest companies.

Virgin Australia says its jet fuel bill will rise by an extra $30 to 40 million in the second half of its financial year, prompting capacity and fare adjustments.

The Nasdaq has climbed two per cent while the S&P 500 finished up one per cent and ‌near its record closing high on increasing optimism about the prospects for a Middle East resolution.

China has lifted bans on procurement of the ‌key steelmaking ingredient from mining giant BHP Group, sources tell Reuters, ending a months-long dispute following a visit by the miner's top executives to its largest customer.

The local share market has rebounded as investors cling to hopes the US and Iran might soon return to the negotiating table rather than resume their war.

Australia's second-largest bank has warned that the Middle East conflict has dented the earnings contributions from one of its internal businesses.