ASX to rise as Covid-19 fears spread in Sydney

Here's Yahoo Finance's Tuesday morning wrap. Source: Getty

Good morning.

Here’s Yahoo FInance’s Tuesday morning wrap.

The ASX is expected to rise at the open of trade, after Wall Street’s main indexes finished higher.

One Australian dollar was buying 71.50 US cents at 7:00am AEST, up from 71.32 US cents at Monday's close.

In the US, share markets closed higher as investors took bets on the market’s most high-profile tech stocks ahead of earnings reports.

Apple, Amazon, Facebook and Alphabet boosted the S&P 500 higher, with the Nasdaq posting 1.7 per cent gains.

Sydney shut down: Some restaurants in Sydney's Potts Point have voluntarily shut until the end of the week, amid concerns the inner eastern suburb could be the next NSW coronavirus hotspot.

It follows two positive cases in the suburb involving staff members from The Apollo and Thai Rock restaurants.

Aged care win: Casual aged care workers will be eligible for paid pandemic leave after a Fair Work Commission decision to try to prevent the spread of Covid-19.

Don’t pay these 6 fees: Novice investors think that bricks and mortar is a safe and easy investment, and they find out the hard and often expensive way that property investment success is not so easy.

Here are six ‘learning fees’ property expert Michael Yardney has seen investors pay.

‘Deep trouble’: With house prices down 2 per cent, mortgage holidays about to end and a weak labour market, Australia’s property market is in deep trouble, independent economist Stephen Koukoulas writes.

Don’t be fooled: Tesla CEO Elon Musk has dished the dirt on billionaire Warren Buffett, saying he’s not the “kindly grandfather” he’s cracked up to be.

Have a great day.

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