AAP

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".

The Australian share market has opened higher.

The Australian dollar has lost some ground following a quiet weekend of trade.

Gold has edged lower for the third straight session and notched its biggest weekly slide in nearly two months on growing expectations for an increase in US interest rates as soon as next month.

Two petroleum industry executives with a strong Perth connection have struck a deal that will see Oil Search boost liquefied natural gas development in Papua New Guinea, after negotiating a $US2.2 billion ($A3 billion) deal to buy InterOil.

The federal Liberal candidate for Fremantle Sherry Sufi has resigned and will not contest the election.

Energy giant Woodside Petroleum is excited about the exploration potential of Myanmar after increasing its estimates for two offshore gas discoveries.

The share market has defied weaker commodity prices and falls on other markets to end the week with a gain.

The Australian share market has opened flat following a weak overnight performance in the US and Europe.

Stocks around the world have sold off, while the US dollar has gained, pressuring oil and other commodities, as investors absorbed the possibility that the US Federal Reserve will raise interest rates in the near term.

The Australian dollar is virtually flat, after dropping to fresh two-month lows overnight on increasing expectations of a US interest rate hike.

Gold has slipped more than one per cent to a three-week low, extending the previous day's decline, after minutes from the Federal Reserve's April policy meeting signalled that it could raise US interest rates as soon as next month.