Australia markets closed
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ASX to open higher as Bitcoin nears US$50k

·2-min read
(Images: Getty).
(Images: Getty).

Good morning.

ASX: The Australian share market is expected to start the week higher, albeit with lower volumes on Monday due to the NSW, ACT, Queensland and South Australia public holiday.

SPI futures are indicating a 0.7 per cent jump.

Wall Street: Stocks surged to a higher close on Friday after the news that US President Joe Biden would become more involved in negotiations over the crucial infrastructure spending bill currently being debated.

The Dow Jones Industrial Average rose 482.54 points, or 1.43 per cent, to 34,326.46; the S&P 500 gained 49.5 points, or 1.15 per cent, at 4,357.04; and the Nasdaq Composite added 118.12 points, or 0.82 per cent, at 14,566.70.

Cryptocurrency: Bitcoin is edging closer to US$50,000 a token for the first time since September, as pundits debate whether a US Bitcoin ETF could soon be approved. It currently costs $66,099 to buy one Bitcoin, or US$48,030.

$1 million prize: Australian adults can win daily $1,000 prizes and an ultimate $1 million prize if they have received at least one vaccine dose, and are fully vaccinated by 31 October. Here’s what you need to know.

Pandora Papers: Some 330 politicians have been hiding assets in shell companies, foundations and offshore accounts, according to a bombshell report by the International Consortium of Investigative Journalists. The report, dubbed the Pandora Papers, was made possible after the largest leak of tax haven data in history.

Perrottet in waiting: NSW Treasurer Dominic Perrottet is likely to become the next Premier of NSW after Gladys Berejiklian stepped down on Friday amid claims of corruption. Perrottet is part of the NSW Liberal party’s right faction. Jobs Minister Stuart Ayres will serve as his deputy if he is successful.

RBA ahead: And the Reserve Bank of Australia will meet on Tuesday 5 October to discuss the country’s current monetary settings. However, according to one prominent economist, the chat is “likely to be pretty boring”.

Have a great day.

With AAP.

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