AAP

Wall Street stocks have risen, with the Nasdaq leading the way following reports of a possible $US23 billion acquisition of chipmaker Micron and big gains by Google and others.

Gold has eased as the US dollar came off its lows and the market awaited Federal Reserve Chair Janet Yellen's semi-annual testimony to Congress on Wednesday and Thursday, which may provide more signals about a looming rate rise.

More than $33 billion has been added to the share market's value as investors cheered a tentative Greek bailout deal.

Standard and Poor's has removed Western Australia's credit rating from credit watch, but the outlook remains negative.

The state government is softening its stance on ride-sharing service Uber, but won't drop prosecutions against drivers accused of breaking the law, Premier Colin Barnett says.

Solutions to Perth's growing traffic congestion look set to be a main theme of the 2017 state election, with the WA government changing its tune on the MAX light rail project.

The Australian share market has opened strongly higher.

US stocks have powered higher, joining a global equity rally after Greece reached a tentative new bailout deal that would avoid the country dropping out of the eurozone.

Oil prices slipped as traders weighed reported progress in negotiations on Iran's nuclear program, Greece's tough bailout agreement with its European creditors and a mixed OPEC report.

The Australian dollar is lower after the greenback strengthened following an agreement in Europe for a new debt bailout deal between Greece and its creditors.

Gold has slipped one per cent as the US dollar rose against the euro after leaders struck a deal to negotiate a Greek bailout, while signals the US Federal Reserve was still on track to raise rates this year also weighed.

The Australian share market has closed lower, in a choppy session during which it fell, rose, and fell again amid a sell-off of bank stocks.

The Aussie dollar is likely to fall to around US70 cents by the end of the year in response to higher US interest rates and sliding commodity prices, UBS predicts.

The Australian share market has opened lower.

The Australian dollar lower as global markets watch developments in Greece's ongoing debt emergency, with renewed hopes of a breakthrough.

Gold has given up earlier gains after US Federal Reserve Chair Janet Yellen said she expected the central bank to raise interest rates sometime this year but pointed to concerns that US labour markets remain weak.

A record one-day jump in the price of Australia's biggest export is not expected to be the spark of a meaningful recovery.

The Australian share market has closed higher, boosted by a lift in iron ore prices, a recovery on Chinese markets and optimism around Greece.

The number of 457 visa applications that require employers to seek Australian workers first could slump to just 25 per cent because of free trade agreements, unions say.

Australians have sent large sums of money to a Dubai bank account in a bid to buy shares in lithium battery and electric car maker Tesla, but have been scammed.

Iron ore prices have jumped almost 10 per cent, just a day after plunging to a 10-year low.

The Australian share market has opened almost one per cent higher following a rebound by the big miners and a recovery on overseas markets.

Spot gold has climbed after a recovery in Chinese shares cooled fears of a wider rout in the major bullion consumer while strength in the US dollar kept a lid on gains.

US stocks have finished higher, bouncing back from deep losses in the prior session following strong gains in Asian and European equity markets.

Oil prices have risen after a spate of losses, as a rebound in Chinese stocks somewhat eased concerns about financial turbulence in the world's biggest energy consumer.

The Australian dollar has lost ground despite better-than-expected jobs data, a recovery of Chinese shares and a new Greek bailout proposal.

Ambulances are being diverted from Perth's new Fiona Stanley Hospital and operating theatres have been closed because of flooding for the second time in three months.

The Australian share market has rebounded from its early losses due to big gains by the miners, strength on China's market and better-than-expected jobs figures.

Iron ore prices have plunged to a fresh six-year low as the commodity gets caught up in the fallout from China's massive sharemarket plunge.

Qantas has welcomed an interim decision by the competition watchdog for the carrier to expand its partnership with American Airlines on services between Australia and the US.

The jobless rate in Western Australia rose to 5.8 per cent in June, while a small increase in the national rate has economists warning it hasn't yet peaked.

At 1028 AEST on Thursday, the benchmark S&P/ASX200 index was down 64.5 points, or 1.18 per cent, at 5,405 points.