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ASX to fall as BMW reveals new luxury electric vehicle

·2-min read
The ASX board showing company price changes and the new 7 Series BMW.
The ASX is expected to fall this morning. Meanwhile BMW has unveiled a new luxury vehicle. (Source: Getty/AAP)

ASX: The local market is expected to fall at the open after Wall Street finished lower overnight.

This comes after the Australian share market recorded a broad-based shift higher in Thursday trade, overcoming a drag caused by some of the big mining companies grappling with labour shortages.

Wall Street: US stocks fell on Thursday as investors continued to monitor a steady stream of corporate earnings results against a backdrop of elevated inflation and further Fed policy tightening.

Crypto: Major US financial institutions are turning their attention towards blockchain.

BlackRock, JPMorgan Chase and Goldman Sachs were among the companies reporting quarterly results last week whose CEOs addressed a growing demand for digital asset services from clients, while also hinting at plans to embrace blockchain technology on a wider scale.

Musk madness: Details of how Elon Musk plans to pay for his Twitter bid have been revealed.

If Twitter accepts his offer (which at this stage seems unlikely), Musk will put up US$33.5 billion, which will include $US21 billion of equity and $US12.5 billion of margin loans.

Banks, including Morgan Stanley, have agreed to provide another $US13 billion in debt secured against Twitter itself.

Meanwhile, Former US Securities and Exchange Commission chairman Harvey Pitt had a few choice words for Musk, the agency's frequent attacker - Grow up.

‘Fluffy puppy’: ​​Early signs of less discretionary spending on furry loved ones are a ‘Fluffy Puppy’ indicator for the health of the economy. After all, who doesn't want to keep Fido happy?

But the indicator is flashing red in the US. This is what it means.

Going green: Move over Tesla Model S and Mercedes-Benz EQS , a new, top-of-the-line electric sedan is here.

BMW took the wraps off its all-new 7 Series, with three new models, including an electric version for the first time.

Stock picks: Goldman Sachs thinks these are the best stocks to buy right now. Check them out.

- With AAP

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