Markets

The ASX is on track for its best day since April on renewed hopes for a Middle East peace deal, which could deliver normality for global oil and gas supplies.

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Kevin Warsh, the unlucky new chairperson, has seen his case for lower interest rates disintegrate.

America’s consumer prices rose at a faster rate for a third-straight month in May, to 4.2 per cent annually, as the energy shock put more pressure on the US economy.

America’s inflation level hit 4 per cent for the first time in three years in May, driven by surging gas prices from the Iran war.

America’s inflation level hit 4 per cent for the first time in three years in May, driven by surging gas prices from the Iran war.

The Reserve Bank is expected to leave rates on hold next week but there are fears inflation is so high it won’t be able to cut rates even if Australia fell into a recession.

Rob Scott said Australia’s ‘less hospitable tax settings’ could force companies investing in the nation’s resources and oil and gas sectors offshore.

Australian consumer confidence has slipped into ‘deeply pessimistic’ territory as households battle with persistent cost-of-living pressures, while expectations for the housing market also cooled.

The Australian share market has tumbled in early trade as nervous investors, returning from a Monday public holiday on the east coast, wait on further signs of any flare-up in tensions across the Middle East.

The creation of new jobs in the United States has sparked inflation fears, causing the Australian share market to plunge.

High-profile fund manager Geoff Wilson said it was ironic Australians were rushing to the float when Labor was about to make share investing more expensive.

US stocks have closed lower as investors digested data showing unexpectedly robust jobs figures.

Reserve Bank governor Michele Bullock has warned Australia’s poor workplace productivity could lead to stagflation where unemployment and inflation were both high at the same time.

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