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ASX to dip; Aus Post under fire over $34,000 hotel stay

Anastasia Santoreneos
·2-min read
Australia Post CEO Christine Holgate has been ordered to stand aside. Source: Getty
ASX to dip; Aus Post under fire over $34,000 hotel stay. Source: Getty

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

The ASX is expected to dip at the open, with the SPI200 Futures Contract down 55 points, indicating the local bourse will be taking a negative lead from the US.

Overnight, the Dow Jones fell more than 2 per cent, and the S&P 500 posted its biggest daily decline in a month, as the US battled surging Covid-19 infections and uncertainty over a fiscal stimulus bill.

The Dow Jones Industrial Average fell 647.1 points, or 2.28 per cent, to 27,688.47, the S&P 500 lost 64.15 points, or 1.85 per cent, to 3,401.24 and the Nasdaq Composite dropped 189.35 points, or 1.64 per cent, to 11,358.94.

Watch live: Yahoo Finance US is speaking to world leaders, including Bill Gates and infectious disease expert Anthony Fauci, about the global Covid-19 recovery at its All Markets Summit.

Catch up on what you’ve missed so far, or watch it live here.

Covid-19 vaccine: Microsoft co-founder Bill Gates revealed to the All Markets Summit when we can expect a Covid-19 vaccine - and if we should see life return to normal.

Here’s what he said.

Australia Post: The postal service has found itself in the nation’s crosshairs once again, after an investigation revealed Australia Post paid a whopping $34,000 for CEO Christine Holgate’s hotel stay.

It was found that Holgate stayed at the luxury Grand Hyatt suite in Melbourne between October 2017 and July 2018, with Australia Post footing the entire bill.

Jobless recovery: Australia might be heading for a recovery, but there’s one major missing detail: there won’t be any jobs.

Here’s independent economist Stephen Koukoulas’ predictions for the road ahead.

Have a great day.

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