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ASX flat as Aussies wait for magic vaccination number

·2-min read
Empty street in the Rocks in Sydney. Scott Morrison. The ASX board. A person prepared a COVID-19 vaccine dose.
Prime Minister Scott Morrison will meet with National Cabinet today to duscuss the magic vaccination rate that will see Australia's economy reopen (Source: Getty)

Good morning.

ASX: Aussie stocks are set to start the day off flat after a positive day in the US but with virus fears still lingering over the Australian economy.

The Aussie dollar rose slightly overnight to US73.98 cents.

Wall St: US stocks have ended higher, boosted by robust earnings and forecasts, while data showed the country's economy was above its pre-pandemic level.

The US economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak but the pace of GDP growth was slower than economists had expected.

Carbon neutral: Going harder and faster on emission reduction beyond net zero by 2050 would make Australia economically stronger, new modelling shows.

Australia has not committed to reaching net zero emissions by 2050, but says it is a “preference” to get there by then.

Path to freedom: Aussie leaders will begin charting a course to fully reopen the economy based on COVID-19 v vaccine modelling.

Prime Minister Scott Morrison will chair a national cabinet meeting today with state and territory leaders.

They will be presented with Doherty Institute modelling which calculates immunisation coverage needed to avoid lockdowns and restart international travel.

Privatisation concerns: The head of the competition watchdog has called for greater regulation when government assets are privatised to avoid future monopolies that come at a cost to Aussie consumers.

However, the Australian Competition and Consumer Commission chair Rod Sims said there are many examples of privatisations that have been done well and have benefited the country.

WARNING: Smart Traveller and Scamwatch are warning Aussies abroad about scammers who are impersonating officials from the Department of Foreign Affairs and Trade (DFAT) and offering flights back to the country.

Smart Traveller issued an alert about the flight scam and said scammers were requesting credit card information.

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