AAP

The Australian share market has closed higher, with the big miners boosted by a rise in commodity prices.

Building approvals have suffered their largest setback since September 2014 as the huge surge in high-density dwellings eases.

Households are going without food and medicines and are unable to pay bills as cost of living pressures take hold, welfare advocates say.

The share market has opened higher, with gains in all key sectors.

Employment figures are due next week and may go some way to resolve the mystery of jobs growth that appears too strong to be consistent with an economy growing at less than its normal pace.

Oil prices have rallied as an unexpected weekly fall in US crude oil inventories somewhat eased worries about demand in the world's largest economy.

US stocks have risen after the Federal Reserve kept its benchmark interest rate at near-zero per cent and gave no fresh clues on the timing of a long-awaited rate hike.

The Australian dollar is weaker against a greenback that has been strengthened by positive comments from the US Federal Reserve.

Gold has edged higher but remains near its recent five and a half year low, after a US Federal Reserve statement raised uncertainty about the timing of a possible interest rate hike, leaving the door open for September.

AMP Bank has stopped lending to investors as mortgage brokers warn interest rate hikes for landlords could lock out first-time buyers, but lead to further discounts for owner occupiers.

The Australian share market has closed higher after being galvanised by strong leads from overseas markets.

Australian companies risk falling behind their overseas rivals because investors' demands for large dividends stymies investment in innovation.

Virgin Australia is on the cusp of returning to profitability, after lower fuel prices and improved market conditions helped the airline rein-in its full-year loss.

Western Australia is leading national trials in the farming of quinoa, with the crop a potentially lucrative export in the future.

Programmed Maintenance Services says its performance in the first three months of the 2015-16 financial year reflects the major transition occurring in the economy.

Banking giant ANZ will pay an extra $500 a year to women employees with low superannuation balances in an effort to close the gender gap in retirement savings.

Australia won't sign up to the massive trans-Pacific partnership trade deal if it can't get a better agreement for sugar farmers and clear up issues surrounding medicines and the rights of companie

The Australian share market has opened around one per cent higher after an easing of fears about Chinese stocks sparked a rebound on overseas markets.

US stocks have snapped a five-day losing streak, posting strong gains after positive earnings from UPS and a big rally in petroleum-linked stocks.

US crude oil prices have risen for the first time in five days, while Brent has dropped amid worries about global supplies ahead of the weekly US petroleum inventories report.

The Australian dollar has bounced amid relative calm on China's share market and a lift in iron ore prices.

Gold has firmed but remains near five-and-a-half-year lows as markets brace for this week's Federal Reserve meeting, at which policymakers are expected to give further clues on the timing of a US rate increase.

The Australian share market has closed slightly lower, avoiding any major fallout from hefty falls by Chinese stocks.

Mining boss Andrew Forrest says he's not particularly concerned about sagging Chinese equities markets, despite the slump sparking worries about growth in the world's second biggest economy.

A renewed steep sell-off on the Chinese share market risks undermining improving levels of consumer confidence in Australia.

The Australian share market has opened lower.

Wall Street equities took a hit after a big drop in the Chinese stock market sparked worries about global economic growth.

Oil prices have slumped for a fourth straight day as the steepest drop in Chinese equities since 2007 fuelled fresh fears about reduced demand in the world's top energy consumer.

The Australian dollar is weaker following an aggressive sell-off in Chinese equities.

Spot gold has lost ground, moving closer to last week's five-and-a-half- year lows below $USUS1,100 per ounce, with expectations for a near-term US interest rate hike seen keeping momentum firmly with the bears.

Monday was a horror first day back to the trading room for Atlas Iron as the Pilbara miner's share price plunged by more than 70 per cent.

The big miners have led the way as the Australian share market recovered from early jitters to end a run of three straight losses and close the day higher.