Yahoo Finance ASX takes a hit amid travel bubble concerns, Apple announces new tech
Good morning.
Here's everything you need to know in finance markets this morning.
ASX: It looks set to be a tough day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day a sizeable 78 points or 1.1 per cent lower this morning.
Wall Street: Stocks on Wall Street have fallen for a second straight day as a global spike in coronavirus cases hit travel-related shares and investors had second thoughts about big US banks' apparently stellar earnings last week. Kansas City Southern surged on the prospect of a bidding war after Canadian National offered about US$30 billion (A$39 billion) for the US railway, U$S5 billion more than an earlier offer from Canadian Pacific.
AUD: The Australian dollar is trading at 0.7721 to the US dollar as at 7.38am this morning.
Oil: According to Bloomberg, the WTI crude oil price is down 1.2 per cent to US$62.61 a barrel and the Brent crude oil price has fallen 0.8 per cent to US$66.50 a barrel. This decline was driven by demand concerns.
Gold: According to CNBC, the spot gold price is up 0.45 per cent to US$1,778.80 an ounce. Demand for safe haven assets appears to have driven the precious metal higher.
Bitcoin: Bitcoin and ethereum have extended price declines that began last week. Bitcoin was down 4.6 per cent to trade at $54,763.19 by 9.20am in London. Ethereum, the second largest cryptocurrency, was down around 5.3 per cent to trade at $2,134.7.
Dogecoin: For a cryptocurrency created as a joke, Dogecoin finds itself in some serious company. After a 400 per cent rally in the past week, the total value of all circulating Dogecoins in the world briefly rose to as much as $50 billion, according to data provider CoinMarketCap.com. The digital token later retreated by about 20 per cent Tuesday, reducing its market value by around $10 billion from the high.
Travel bubble: Travel shares such as Qantas Airways Limited and Webjet Limited will be on watch today amid concerns over the Trans-Tasman travel bubble. This follows news that a border worker in Auckland has tested positive for COVID-19 and is now quarantining.
Clean energy: The federal government will direct almost $540 million to clean energy technologies after the prime minister this week emphasised Australia's power mix had to change. Scott Morrison is expected on Wednesday to announce the investment for hydrogen hubs and carbon capture and storage developments and play up the job opportunities to come.
Miners: Two NSW mining companies have been slugged with an estimated $1.5 million bill over alleged breaches of environmental regulations on lead.
New iMacs: Apple has announced a new line of slim iMac computers, with a focus on connectivity for a work-from-home world, that uses its own processor chips. The company also showed off an array of products including AirTags to find lost items and podcast subscription services. AirTags will cost A$45 each or four for A$149 while the iMac will start at A$1,899 including GST. Both will be available starting on April 30.
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