AAP

Treasurer Joe Hockey has warned no individual or business will escape the pain of the government's first budget, as both major parties blitzed Western Australia ahead of Saturday's Senate election re-run.

Inflation has continued to rise, signalling the beginning of the end for the record low cash rate.

Better-than-expected numbers on US consumer incomes and spending has given Wall Street shares a boost, as investors shrugged off sabre-rattling over Ukraine.

Gold prices have ended marginally lower, as a pair of economic reports give conflicting indications about the state of the US recovery.

The Australian dollar has drifted lower ahead of the Reserve Bank of Australia's April board meeting.

The Australian dollar has edged closer to 93 US cents and could soon hit a near-six month high of 95 US cents, traders say.

Federal Treasurer Joe Hockey has struck an historic deal with his state and territory counterparts that could see billions of dollars of new infrastructure built across the nation.

The share market has closed higher as stronger commodity prices boosted the resources sector, while the major banks also rose.

The share market has opened lower after Wall Street fell despite positive economic news in the US.

Qantas Airways has cut the number of points customers flying on its cheaper fares can earn as it overhauls its frequent flyer program.

Thais in $2bn WA gasfield selloff

US stocks have closed in the red, with the tech-rich Nasdaq leading the losses for a second day as investors weigh a batch of mixed economic data.

Gold prices have sunk to a six-week low as signs of improving US economic growth and easing concerns about Ukraine sap investor interest in the haven asset.

The Australian dollar has hit another four-month high as the prospect of a stable interest rate outlook continues to drive the currency higher.

The share market has been weighed down by weaker commodity prices and a stronger Australian dollar.

The Abbott government's sale of Medibank Private is likely to be a good opportunity for investors, but bad news for the health insurer's staff.

Brickworks expects a recovery in house construction activity to drive significant earnings growth in its building products business, despite Western Australia remaining a "difficult market" for the company.

The Abbott government has complained that a Senate inquiry into the national broadband network was stacked in favour of their opponents and didn't reflect the evidence heard.

Australian stocks have opened weaker following a sell off on US markets overnight.

US stocks have finished lower with technology names tumbling the most after the market snubbed a Facebook acquisition announcement and King Digital's first day of trade as a public company.

Oil prices in New York jumped after data showed a fall in crude supplies at a key US trading hub and a surprisingly large decline in petrol stocks.

The Australian dollar has hit a new four-month high as it looks more likely that the cash rate won't be reduced again this interest rate cycle.

Export earnings from resources and energy commodities are expected to increase by eight per cent a year, driven by growth in volumes and despite softness in prices, a federal government forecaster predicts.

The share market rose on the back of strong consumer confidence data in the US and higher commodity prices.

Agricultural chemicals and seeds supplier Nufarm has more than doubled its half year profit but says the drought hit Australian market remains challenging.

The federal government will go ahead with the sale of Medibank Private next financial year, Finance Minister Mathias Cormann says.

Australian stocks have opened higher, following gains on European and US markets overnight.

Reserve Bank governor Glenn Stevens says governments must act to a create more conducive environment for economic growth.

US oil prices have slipped as traders anticipate a gain on stockpiles in the United States in the government's weekly crude inventory report, but prices were slightly higher in London.

US stocks have finished higher as biotechnology companies and other high-tech equities steadied following a two-day skid.

The Australian dollar has hit a four-month high, helped by continuing speculation that the Chinese central bank will take action to stimulate its economy.

Australian stocks have closed lower as gold stocks came under pressure because of a significant fall in the price of the precious metal.