Yahoo Finance ASX to dip ahead of RBA interest rate decision
Good morning.
Here’s Yahoo Finance’s Tuesday morning wrap.
The ASX is expected to dip at the opening of trade, after experiencing its best month on record with gains of 9.96 per cent.
The slip is in line with the performance of Wall Street’s main indexes overnight, which fell as investors took stock ahead of crucial economic reports this week.
The Dow Jones Industrial Average fell 0.98 per cent to 29,615.96, the S&P 500 lost 0.49 per cent to 3,620.64 and the Nasdaq Composite lost 0.058 per cent to 12,198.74 after hitting an all-time early in the session.
The Reserve Bank is expected to hold interest rates at a record low of 0.1 per cent when it releases its monetary policy decision at 2:30pm AEDT on Tuesday.
It’s the last gathering on monetary policy until February next year.
Stamp duty: NSW revealed new home buyers would not be required to pay stamp duty, and instead be given an option to pay the tax upfront of via an annual land tax.
But is it as good as it sounds? Property expert Michael Yardney argues perhaps not, with some home buyers being forced to fork out an extra $7,025 in the long run.
Bill blowout: Almost 60,000 Aussie households opted to defer paying their energy bills under retailers’ hardships offers, a new report has revealed.
The research also found small businesses energy debt jumped to $10 million in the first three months of the pandemic.
If you’re struggling to pay your bills, here’s what you can do.
Vaccine: Moderna will apply for emergency authorisation for its Covid-19 vaccine in the US and Europe, after full results from a late-stage study revealed it was 94.1 per cent effective agains the virus.
Spending too much? A 2019 study found our brains aren’t really activated when we pay by a card or a smartphone, which means it’s easier for us to spend more when we pay by this method - almost 100 per cent more.
If you want to curb your spending, here’s the mobile phone setting you can activate.
Qantas job cuts: Qantas confirmed a further 2,000 employees will be axed from its workforce, as it moves to outsource ground handling operations at 10 airports across Australia.
Have a great day.
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