AAP

Australia's major banks face soft profit growth amid growing macroeconomic risks linked to low interest rates and government tax policy, according to Fitch.

The Australian share market has opened higher, led by CSL, Macquarie Group, Wesfarmers and financial stocks.

Oil prices have eased after topping $US50 a barrel for the first time in about seven months, while US stocks ended near flat after two days of strong gains.

Wall Street has trodden water following two days of strong gains as advancing defensive sectors offset declines in materials, banks and other cyclical industries.

The Australian dollar is strengthening on pessimism about a US rate hike in June.

Shoppers will no longer be slugged with excessive surcharges on credit card payments under new rules, but could face other fees as banks look to make up for lost revenue.

The share market has been boosted by mining and energy stocks, but investors are still looking for something to provide more significant drive.

Gina Rinehart has lost her position as Australia's richest person due to plunging iron ore prices and a bitter court battle with her two eldest children.

Parents won't be getting a schoolkids bonus after July, no matter who wins the federal election.

The Australian share market has opened higher.

Wall Street has risen robustly for a second straight session, helped by higher oil prices and investors becoming more comfortable with the prospect of an interest rate hike as early as next month.

Gold has fallen to a seven-week low after upbeat US home sales data in the previous session boosted expectations that the Federal Reserve will press ahead with interest rate rises in the near term.

Oil prices have climbed to just shy of $US50 ($A69.62) a barrel after a sharper-than-expected fall in crude inventories, lifting energy shares and world stock markets.

The Australian dollar has failed to jump on the US equities rally bandwagon as risk appetite firms, dipping below the 72 US cent mark.

The share market has rallied as improved sentiment and a higher Aussie dollar delivered a boost for the big banking and resources stocks.

David Jones has revamped its senior management team and created a new digital role to support the department store business’s continued overhaul.

Wesfarmers' full-year profit will be hit by write-downs and restructuring costs of about $2 billion related to its Target department stores and Queensland coal mine.

The Australian share market has opened more than one per cent higher.

Gold has fallen to its lowest in more than four weeks as hawkish comments from Federal Reserve officials in the previous session sent the US dollar to a two-month high against a currency basket.

The Australian dollar has recovered from a three-month low after the Reserve Bank hinted at further rate cuts.

Wall Street has surged more than 1 per cent and the Nasdaq has had its strongest day in three months as investors made peace with the possibility the US Federal Reserve might soon raise interest rates.

The Australian share market has closed lower as investors continue to ponder the possibility of another cut to local interest rates and await the federal election vote on July 2.

A crowdfunded Australian bid for the S Kidman and Co cattle stations is gathering pace after securing a new business partner.

Prime Minister Malcolm Turnbull has pledged an extra $60 million to fix mobile phone black spots; boosting the program Tony Abbott announced in the previous election campaign to $220 million.

The Australian share market is trading slightly lower in early trade as investors hunt for cues after an uneventful session on Wall Street.

Global stock markets have edged lower while short-dated US Treasury yields held near two-month highs as investors weighed the possibility that US interest rates could soon rise.

The Australian dollar is in negative territory with no data or news to drive direction.

Gold has dipped to a three-and-a-half-week low as expectations rise that the US Federal Reserve will lift interest rates as early as June, but prices came off their lows as late-day short-covering entered the market.

The Australian share market has closed lower, weighed down by mining and banking stocks.

Bill Shorten is trying to woo Perth commuters with a $1 billion pledge for the Metronet urban rail project, which WA Labor says will cost $2.5 billion but the WA Liberals have labelled as pork-barrelling.

Whitegoods retailer The Good Guys is pushing ahead with plans to float on the Australian Securities Exchange despite holding takeover talks.

Clive Palmer says he's decided not to pursue a federal Senate seat because he is past retirement age and wants to "play a bit of bowls and have a bit of fun".