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ASX to lift as ransomeware ring brought to heel

·2-min read
Computer generated image of many numbers and lock on computer screen.
Two people have been charged in relation to a ransomeware ring. (Source: Getty)

Good morning.

ASX: The ASX is expected to open slightly higher on Tuesday after an uninspiring lead from Wall Street overnight.

The benchmark S&P/ASX200 index closed lower on Monday by 4.7 points, or 0.06 per cent, to 7,452.2.

The All Ordinaries closed down 9.3 points, or 0.12 per cent, to 7,767.9.

Wall Street: The Dow Jones hit a record high on Monday morning local time before paring back gains as it waited for earnings reports from Disney and Cardinal Health.

In late trading, the Dow Jones Industrial Average was up 0.31 per cent, at 36,440.03, the S&P 500 was up 0.082 per cent, at 4,701.37 and the Nasdaq Composite was up 0.067 per cent, at 15,982.36.

Cryptocurrency: Bitcoin gained nearly 6 per cent in 24 hours as it approached a new record high, nearly surpassing the October peak of US$67,000 (AU$90,000).

Christmas shopping: After a horror year for Australian businesses, retailers are optimistic Christmas will provide a much-needed shot in the arm. An annual retailers Christmas survey from Deloitte found 80 per cent of retailers predicted sales growth this holiday season.

Electric vehicles: The greener cars could be about to become more ubiquitous, with a new $500 million strategy designed to create 2,600 jobs and supply fast charging to 84 per cent of the Australian population.

According to Prime Minister Scott Morrison, the public and private sector investment will put up to 1.7 million more electric vehicles on the road by 2030.

Ransomware: Two suspected criminal hackers have been charged in the US after a spate of ransomware attacks, including one that affected businesses around the world in July and another that shut down the world’s biggest meat processor.

US officials said they had recovered US$6.1 million (AU$8.2 million) from the Ukrainian and Russian nationals.

"The Justice Department is sparing no resource to identify and bring to justice anyone, anywhere who targets the United States with a ransomware attack," US Attorney General Merrick Garland said.

Have a great day.

With AAP.

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