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ASX to rise; Workers take Qantas to High Court over sick leave

Anastasia Santoreneos
·2-min read
Two Qantas passenger jets cross each other at Kingsford Smith International airport in Sydney June 27, 2013. Rolls-Royce Plc failed to identify a defect that caused one of its engines to explode on a Qantas Airways Ltd A380 aircraft carrying more than 400 people over Indonesia three years ago, an Australian safety regulator found. REUTERS/Daniel Munoz (AUSTRALIA - Tags: TRANSPORT BUSINESS)
ASX to rise; Workers take Qantas to High Court over sick leave. Source: Getty

Good morning.

Here’s Yahoo Finance’s Wednesday morning wrap.

The ASX is expected to rise at the open of trade, after finishing lower for the third straight session on Tuesday.

The decline sets the local bourse back to levels recorded early in the month, and casts doubt on whether a ‘Santa rally’ will occur this year.

"If Santa is planning a visit, he's only got a day and a half to go," ThinkMarkets analyst Carl Capolingua said, with the ASX having a short session on Thursday.

In the US, Wall Street produced mixed results, with the S&P 500 and the Dow Jones finishing slightly lower, while the Nasdaq finished nearly half a per cent higher.

It comes as Congress approved a near-US$900 billion stimulus package, somewhat taking the edge off news of a new virus strain in Britain.

"While the virus news continues to overshadow from time to time, the market is probably going to resume its upward trend, and that's probably because relief is coming for the economy," Peter Cardillo, chief market economist at Spartan Capital Securities told AAP.

Qantas staff who were stood down during COVID-19 are taking their fight for sick leave entitlements to the High Court, after the Federal Court appeals bench rejected their claim earlier this month.

The Federal Court said because the employees were not working there was nothing to take leave from, but the workers say they cannot afford to get by on JobKeeper if they are sick, and they should be able to take sick leave they have accrued.

Apple: The iPhone maker has revealed its plans to move into self-driving car production by 2024.

The vehicle will also reportedly include Apple’s own battery technology, in a move known as Project Titan.

Here’s what we know.

Facebook: From next year, users will be allowed to set up physical security keys as a way to verify their identity before logging into the Facebook app.

Users could purchase a hardware key from retailers, and register it with Facebook, the company said.

Christmas cash: The average Australian plans to spend a whopping $1,325 each this silly season. That’s a significant amount, considering the tough year many Aussies have had.

But there are some ways all Aussies can avoid the stress over overspending this Christmas.

Have a great day.

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