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ASX, CPI to rise, Treasurer makes parental leave promise

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Samantha Menzies
·Contributing editor
·3-min read
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Australian stocks expected to open higher on Monday. Source: REUTERS/Daniel Munoz
Australian stocks expected to open higher on Monday. Source: REUTERS/Daniel Munoz

Good morning.

Here's everything you need to know in finance markets for today.

ASX: The Australian share market looks set to start the week much as it finished it. According to the latest SPI futures, the ASX 200 is expected to open the week 4 points higher this morning.

Wall Street: Wall Street finished the week very strongly on Friday. The Dow Jones rose 0.7 per cent, the S&P 500 climbed 1.1 per cent, and the Nasdaq stormed 1.4 per cent higher.

Oil: According to Bloomberg, the WTI crude oil price rose 1.2 per cent to US$62.14 a barrel and the Brent crude oil price climbed 1.1 per cent to US$66.11 a barrel. That wasn’t enough to stop both WTI and Brent crude oil recording weekly declines amid demand recovery concerns.

Gold: According to CNBC, the spot gold price fell 0.25 per cent to US$1,777.80 an ounce. Strong US economic data put pressure on the safe haven asset.

Women and work: Big business wants Treasurer Josh Frydenberg to make it easier for women to get back into work by fixing both the nation's broken child care and paid parental leave systems in next month's budget. Business Council of Australia chief executive Jennifer Westacott argues that with Australia's population growing at its lowest rate since World War I it is critical female participation is lifted to the make the most of homegrown talent.

Morrison: Support for Prime Minister Scott Morrison has bounced back strongly in April after it dropped in March as rape allegations engulfed Parliament House, a Newspoll survey shows. Morrison's approval rating rose to 59 per cent in April compared to 55 per cent a month earlier, according to the latest Newspoll published in Monday's edition of The Australian newspaper.

Putin and Biden: Russian President Vladimir Putin and his US counterpart Joe Biden may meet in June, RIA news agency reports, citing a Kremlin aide, amid simmering tensions between Moscow and the West. The foreign policy adviser, Yuri Ushakov, said a firm decision on the meeting has not been taken yet.

Petrol, property prices: Higher petrol prices, the rising cost of home building and an increase in rents are expected to be among key drivers in a solid rise in the consumer price index for the March quarter. However it will still leave the annual rate of inflation way short of what the Reserve Bank wants to see before it even starts considering lifting the cash rate from its record low 0.1 per cent.

Buffett: Need some advice? Legendary investor and CEO of Berkshire Hathaway has plenty to share. Here are Warren Buffett's 25 best quotes about business, investing, and life.

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