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ASX tipped to fall at open, Wall Street gains

Samantha Menzies
·Contributing editor
·2-min read
Yahoo Finance morning wrap for Tuesday. Source: Getty
Yahoo Finance morning wrap for Tuesday. Source: Getty

Good morning.

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

ASX: The Australian share market is set to edge lower this morning with futures pointing to a fall of 9 points or 0.4 per cent at the open.

Wall Street: Wall Street's main indexes have risen as technology stocks rebound from a recent pullback that was sparked by a surge in bond yields, while Tesla shares surged after Cathie Wood's Ark Invest set a three-year price target of US$3,000 (A$3,878).0 per cent jump to US$690 provided the biggest boost to the S&P; 500 and Nasdaq.

AUD: The Australian dollar is trading at 0.7747 to the US dollar.

Domestic violence: A controversial plan to allow domestic violence victims fleeing relationships to withdraw money from their superannuation accounts has been dumped by the federal government. The proposed policy would have allowed women to withdraw up to $10,000 from their super on compassionate grounds.

Disaster 'chasers': People affected by a massive flood event in NSW are being warned to avoid "disaster chasers", with the insurance bill for the once-in-a-generation event tipped to top $1 billion. Insurance Council of Australia CEO Andrew Hall says insurers have so far received 9500 claims from residents and business owners.

AU outlook: Last week's strong labour force figures showing the unemployment rate unexpectedly dropping to 5.8 per cent should provide a shot in the arm for Australians worrying about the economic outlook.

Cryptocurrency: Cryptocurrency fund inflows declined by roughly 58 per cent to $99 million last week. Lower investor appetite for digital asset funds could reflect uncertainty over bitcoin’s price, which recently has traded in a range between $53,000 and $61,000.

Electric, auto vehicles: A growing chorus of Wall Street professionals is predicting that electric and autonomous vehicles sales will propel Apple and Tesla to $3 trillion each in market value by 2030.

Have a great day.

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