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ASX to climb as additional $47 million offered to flood victims

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and a person removing $100 from a wallet.
The ASX is expected to rise at the open thanks to a rally on Wall Street overnight. (Source: Getty)

ASX: The local market is expected to lift at the open after a slew of positive earnings in the US pushed stocks higher overnight.

This comes after the Australian share market finished slightly lower yesterday, ending its six-day winning streak as US House Speaker Nancy Pelosi’s visit to Taiwan kept the market jittery.

Wall Street: US stocks rallied on Wednesday, led by gains in the technology sector, as strong earnings and economic data lifted sentiment on Wall Street after two straight sessions of losses.

Energy crisis: A new energy sector industry survey revealed the toll the former federal government had on investor confidence.

The War in Ukraine and the June suspension of the Aussie electricity market spooked investors, but the federal election outcome was one of the most positive developments reported since the Clean Energy Investor Group survey began.

Flood support: A program to help renters, homeowners and landlords impacted by the NSW floods has been extended by the federal and state governments.

An additional $47 million worth of grants has been made available to help people repair their properties and replace belongings lost in the June and July flooding.

Teacher shortage: The brain drain of NSW teachers leaving the profession or not being attracted to the job in the first place is the focus of a new parliamentary inquiry.

The probe comes about a month after thousands of NSW public and Catholic school teachers walked off the job and protested in Sydney's CBD demanding better pay and conditions.

Zelenskiy: Students at the University of Sydney were addressed by Ukrainian President Volodymyr Zelenskiy yesterday.

The Ukrainian leader dismissed the importance of the first grain export shipment since Russia invaded, saying it is carrying a fraction of the crop Ukraine must sell to help salvage its shattered economy.

Comeback: Coral cover bounced back across two thirds of the Great Barrier Reef but scientists said its long-term health remained at risk from climate change.

The northern and central sections of the reef had the highest levels of coral cover recorded in 36 years of monitoring by the Australian Institute of Marine Science.

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