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ASX rises amid COVID-19 lockdown panic

·Contributing editor
·4-min read
Here's everything you need to know about finance markets for today. Source: Getty
Here's everything you need to know about finance markets for today. Source: Getty

Good morning.

Here's everything you need to know about finance markets for today.

ASX: The Australian share market is expected to start the week slightly higher. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1 per cent higher.

Wall Street: The S&P 500 ended the week at a record high, lifted by Nike and several banks, while weaker than expected inflation data eased worries about a sudden tapering in stimulus by the Federal Reserve. 5 per cent to an all-time high after the sneaker maker forecast fiscal full-year sales ahead of Wall Street estimates, helping the Dow lead among the three main indexes.

AUD: The Australian dollar is trading at 0.7579 to the US dollar as at 7am this morning.

Oil: It could be a positive start to the week for energy producers after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 1 per cent to US$74.05 a barrel and the Brent crude oil price rose 0.8 per cent to US$76.18 a barrel. Strong demand led to oil prices recording their fifth weekly gain.

Gold: Gold miners will be on watch today after the gold price edged higher on Friday night. According to CNBC, the spot gold price rose 0.1 per cent to US$1,777.80 an ounce. This meant the precious metal recorded a small weekly gain.

Binance ban: Bitcoin exchange Binance banned from UK as crypto frauds double. It comes just two days after the Japanese financial regulator issued a consumer warning against Binance. US and German regulators have also raised concerns over the firm’s activities. The move is part of a broader crackdown on unregulated crypto activity in the UK.

Exports: Australia's resources and energy exports are expected to hit $334 billion in the next financial year, a new study shows. The federal industry department's Resources and Energy Quarterly report released on Monday said commodity prices had gained momentum in the first half of 2021.

Discrimination: A nationwide survey of women of diverse cultural backgrounds has found that 60 per cent have experienced discrimination at work related to their identity. Those women cited racism, tokenism and sexism as the main challenges.

Population: Treasurer Josh Frydenberg is set to hand down the 2021 Intergenerational Report, warning the most enduring economic effect from the COVID-19 pandemic is likely to be a smaller population. It means the economy will be smaller and Australia's population will be older than it would have been, which will have a flow-on effect for future economic and fiscal outcomes.

Coalition support: Voter support for the federal coalition does not seem to have wavered despite COVID-19 vaccine rollout problems, lockdowns in two states and a nationals spill. The coalition's primary vote was unchanged at 41 per cent, and satisfaction with Prime Minister Scott Morrison has lifted a point, according to the latest Newspoll published in Monday's edition of The Australian newspaper.

Save money: The past year and a half has been a financial challenge like no other, and that means the usual money-saving strategies employed in tough times just won’t cut it. Let this be the year you go beyond basic budgeting tips. Here are seven ways you can save money that you’ve probably never tried before.

Britney Spears: Pop star Britney Spears showed up for a remote court hearing Wednesday to fight against her father’s continued reign over her financial, medical, and personal affairs. One celebrity lawyer says based on what’s publicly known, the 13-year-old arrangement known as a conservatorship does not make sense.

Buffett: One of the ways many people become successful is by approaching every crisis as an opportunity — to learn, to invest, to grow. Here are Warren Buffett's top 8 lessons from the COVID-19 pandemic.

Have a great day.

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