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Markets Live: Frozen ahead of Fed
The sharemarket closes lower, reflecting nervousness ahead of a key speech by US central bank chief Janet Yellen.
Jens is the markets and breaking news editor, based in Sydney.
The sharemarket closes lower, reflecting nervousness ahead of a key speech by US central bank chief Janet Yellen.
The ASX ended weaker as investors took profits ahead of Fed Reserve chair Janet Yellen's speech.
Healthy gains in the big banks and the miners were just enough to offset losses in a number of index heavyweights.
Consumer confidence has hit a near-three year high, buoyed by good news from the jobs, stock and housing markets.
A surprisingly large number of new part-time jobs has pulled the unemployment rate down to 5.7 per cent.
Shares are battered, following falls in commodity prices and as investors start to fret about upcoming events.
Consumer sentiment is at its highest since January 2014, delivering some good news to the government ahead of the election.
Gains in the banks - led by CBA and Macquarie - offset losses in the big miners.
Business confidence and conditions slip, but the overall environment remains "highly favourable", NAB says, not making the RBA's rates decision any easier.
The dollar plunges after quarterly inflation turns negative, but stocks can't hold onto gains.
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