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ASX flat as Morrison backflips on COVID tests

·2-min read
Prime Minister Scott Morrison looking concerned.
Prime Minister Scott Morrison will take a proposal to subsidise rapid antigen tests for low-income individuals to National Cabinet today. (Source: Getty)

Good morning.

ASX: The local market is expected to stay flat this morning after a mixed session on Wall Street overnight.

This comes after the Australian share market climbed to its highest level in more than four months yesterday as investors looked past surging local coronavirus cases.

Wall Street: US stocks were mixed on Tuesday after a trove of economic data was released.

The Dow Jones extended its rally while the S&P 500 ticked down after both indexes set records on Monday. The Nasdaq remained relatively flat.

BTC: Bitcoin was flat overnight, but believers have doubled down on their hopes of the cryptocurrency reaching US$100,000.

Watch the video below for more.

COVID backflip: Prime Minister Scott Morrison will reportedly take a proposal to a meeting of the national cabinet to subsidise the cost of COVID-19 rapid antigen tests (RAT) for people on low incomes.

The Prime Minister has faced increasing pressure to make RAT kits universally free as he remained steadfast that the Government would not conduct its own rollout.

AI revolution: New year, new you. And now, new technology promises to assist Australians with their fitness and weight-loss goals.

The CSIRO has launched a new artificial intelligence weight loss coach named "Hope", which predicts appropriate weight-loss targets, tracks progress and provides feedback while using state-of-the-art machine learning to grow and expand its functionality over time.

Musk under pressure: Activists are appealing for Tesla to close a new showroom in China's northwestern region of Xinjiang.

The Xinjiang region is where officials are accused of abuses against mostly Muslim ethnic minorities.

The appeals add to pressure on foreign companies to take positions on Xinjiang, Tibet, Taiwan and other politically charged issues.

End of an era: BlackBerry is pulling the plug on service for its once ubiquitous business smartphones, which were toted by executives, politicians and legions of fans in the early 2000s.

The move marks the end of an era as the phones, which sported a tiny QWERTY physical keyboard, pioneered push email and the BBM instant messaging service.

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