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ASX to dip as Australia prepares for new ‘ultra-low’ fare airline

·2-min read
This is what you need to know this morning. (Image: Getty).
This is what you need to know this morning. (Image: Getty).

ASX: The ASX is expected to open lower on Tuesday following a weak lead from Wall Street overnight.

Futures are indicating a fall of around 0.4 per cent at the open.

On Monday, the benchmark S&P/ASX200 index closed lower by 20.3 points, or 0.28 per cent, to 7299.8.

The All Ordinaries closed down 16.2 points, or 0.21 per cent, to 7601.1.

Wall Street: The US share market fell on Monday, local time, with inflation worries weighing in the lead-up to third-quarter earnings reports.

The Dow Jones Industrial Average finished down 250.19 points, or 0.72 per cent, at 34,496.06, the S&P 500 was down 30.15 points, or 0.69 per cent, at 4,361.19 and the Nasdaq Composite was down 93.34 points, or 0.64 per cent, at 14,486.20.

Crypto: JPMorgan Chase chairman and CEO Jamie Dimon has criticised Bitcoin, describing it as “worthless” while questioning its 21 million coin cap.

The price of 1 Bitcoin is currently around AU$78,000.

Oil bump: Crude oil prices rose more than 2 per cent on Monday, taking Brent crude to $84.09 a barrel - its highest point since October 2018. And it’s showing no sign of slowing, with analysts predicting oil will continue to rise as reopening economies fuel demand.

New airline on the way: Australian travellers will have a new option for domestic flights from early 2022, with domestic airline Bonza set to take to the sky.

"Bonza's mission is to encourage more travel by providing more choices and ultra-low fares, particularly into leisure destinations where travel is now often limited to connections via major cities," CEO and founder Tim Jordan said.

$20,000 grants: NSW businesses will be able to access grants of up to $20,000 if another lockdown occurs and triggers a loss of perishable stock, NSW Premier Dominic Perrottet said on Tuesday.

Elon Musk mocks Bezos: The Tesla founder sent an emoji with a clear sign to Amazon founder Jeff Bezos after stealing his crown as the world’s richest man.

Tax benefit alert: Are you a sole trader? Here’s what you need to know about the $1,000 offset you can claim this tax season.

France makes plastic move: France will ban plastic packaging for most fruit and vegetables from January 2022, with the environment ministry warning the country uses an “outrageous amount” of single-use plastic.

With AAP.

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