AAP

Shares have fallen early on the Australian market and all sectors were lower after US investors were finally spooked by the steady climb in coronavirus infections there.

Qantas will cut at least 6,000 jobs across all parts of the business and continue to stand down 15,000 employees as part of its plan to recover from the impact of the COVID pandemic.

Oil prices tumbled over 5 per cent, or more than $US2 a barrel overnight, after US crude storage hit another record and coronavirus cases rebounded in countries like Germany and surged in heavily populated areas of the United States.

Gold weakened after hitting more than a seven and a half year high earlier overnight, with investors selling the precious metal along with other asset classes as a global rise in coronavirus cases led a flight to cash.

The Australian share market has closed just slightly higher for a fourth straight day, with investors apparently afraid to push the ASX200 over the 6,000 level.

TPG shareholders have voted in favour of the internet service provider's merger with Vodafone Hutchison Australia.

Virgin Australia bondholders have put forward a recapitalisation proposal for the struggling airline, seeking to knock out rival offers from two US private equity firms.

The government and Labor have inched closer together on energy policy but an olive branch extended across the gap has yet to be grasped.

Shares have edged higher on the Australian market, and most sectors are up, after the release of improved home sales data in the US.

Oil futures slipped overnight as the market braced for reports expected to show swelling US crude inventories, which pulled prices back from the highest levels since before the coronavirus pandemic slammed fuel demand.

Gold prices surged to their highest mark since October 2012 on Tuesday, driven by weakness in the US dollar and widespread monetary stimulus packages by central banks as a jump in coronavirus cases dented the economic outlook.

The Australian share market has closed marginally higher after dropping and then rebounding over uncertainty about the status of the US-China trade deal.

Harvey Norman says it expects full-year profit will be 20 per cent higher, after customers flocked to its Australian stores this year.

The Australian Securities and Investments Commission is suing the Commonwealth Bank and subsidiary Colonial First State Investments over a banking royal commission finding that the latter paid bank staff to promote a superannuation product to customers.

Woolworths expects full year earnings could be 2.7 per cent lower after it outlined one-off charges worth $591 million for restructuring and staff underpayments and incurs additional costs related to COVID-19.

Shares on the Australian market have climbed in early trade following a positive lead from Wall Street on hopes of more economic stimulus in the US.

Oil was up 2 per cent overnight on tighter crude supplies from major producers and as coronavirus lockdowns kept easing despite a record rise in cases globally.

Gold prices climbed 1 per cent overnight to hit the highest level in more than a month, as investors took refuge in the safe-haven metal after an uptick in coronavirus cases dampened hopes for a quick economic recovery.

The Australian share market has closed flat after losing ground in the morning, but recovering in the afternoon.

Wholesale distributor Metcash is benefitting from a continuing growth in sales as customers rediscovered neighbourhood supermarkets during the coronavirus pandemic.

The ASX has dropped by more than one per cent at the start of trade as increasing coronavirus cases in the US and Victoria prompt traders to be cautious.

Oil prices finished last week higher but pulled back sharply from early highs on concerns that continued spread of the novel coronavirus could stall the United States' economic rebound.

Gold gained on Friday as a rise in coronavirus cases raised concerns of a second wave of the pandemic that could compel governments to implement new lockdowns.

The Australian share market has finished flat, fading in the afternoon after being up as much as 1.2 per cent after government data showed retail sales rebounded in May.

Retail trade rebounded a record 16.3 per cent in May, following a 17.7 per cent plunge in April, amid a gradual easing of coronavirus-related restrictions during the month.

The consumer watchdog has criticised Qantas for failing to tell customers they were entitled to refunds for flights cancelled due to coronavirus.

Prime Minister Scott Morrison says Australian private and public sector organisations are being targeted in a sophisticated cyber attack by a foreign entity.

The Morrison government wants to steer young Australians into degrees that lead to jobs and will more than double the cost of humanities studies to do so.

The Australian Broadcasting Corporation will cough up a "sorry" payment for underpaying almost 2,000 staff by $12 million.

Mining giant Rio Tinto has announced a board-led review of its "heritage management processes" following criticism of its destruction of ancient rock shelters in the Pilbara.

Australian shares have risen by half a per cent in early trade following a slightly positive lead on Wall Street overnight.

Oil prices rose slightly overnight as a panel of OPEC and allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China.