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ASX to rise; Govt ramps up cyber security

Here's Yahoo Finance's morning wrap. Source: Getty

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

The ASX is expected to rise early, after a surge in Boeing shares boosted Wall Street overnight.

It comes after the Australian share market closed down nearly 2 per cent last night.

The Australian dollar was buying 68.64 US cents at 0705 AEST, lower from 68.84 US cents at the close of trade on Monday.

In the US, Wall Street stocks closed higher on Boeing’s gains and economic stimulus hopes.

The Dow Jones Industrial Average rose 580.25 points, or 2.32 per cent, to 25,595.8 on Monday, the S&P 500 gained 44.19 points, or 1.47 per cent, to 3,053.24 and the Nasdaq Composite added 116.93 points, or 1.2 per cent, to 9,874.15.

Goldman Sachs: Strategists at the US investment firm said high volatility is here to stay. Here are the 31 stocks Goldman Sachs believes will deliver the best returns amid the turbulence.

Seafolly sinks: Australian bikini brand Seafolly has fallen into voluntary administration amid a tough retail environment exacerbated by the Covid-19 crisis.

Recession costs young Aussies: 21-year-olds starting their career right now will lose $32,000 in income over the next decade, new research from EY has revealed.

They’ll also have a $22,000 lower borrowing capacity for their first home, and $30,000 less in their super.

How to save $8,496: Australians will be able to save thousands of dollars in a “single click”, when open banking rolls out from 1 July, a new Finder analysis has revealed. Here’s how.

And why your savings will see a boost: Have you already planned what you’ll do with your tax return this year? The average tax refund in 2019 was $2,381, and 38 per cent of us plan on saving it. Here’s how to make your savings work harder.

Govt ramps up cyber security: Australia will ramp up its fight against hackers with a $1.35 billion package set to create 500 new positions to stamp out malicious cyber attacks.

Have a great day.

Yahoo Finance Breakfast Club episode 7.

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