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ASX to fall as ministers meet to address housing crisis

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and the roofs of houses overlooking the Sydney CBD.
The ASX is expected to fall this morning as the Government turns its attention to housing affordability. (Source: Getty)

ASX: The local market is expected to open in the red after Wall Street closed out the day with mixed results.

This comes after the Aussie share market closed higher yesterday, with gains for iron ore and coal miners outweighing losses by the big banks.

Wall Street: US stocks extended losses on Thursday as investors digested earnings and recession talk from Wall Street's big banks.

Investors were left reeling from shock inflation data that raised the possibility of a 100-basis-point rate hike later this month.

Housing crisis: Australia's housing-affordability crisis will be at the top of the agenda during a meeting of relevant federal, state and territory ministers.

The meeting in Melbourne today will be the first since October 2017.

Labor's election pledge to establish a national housing and homelessness plan requires input from all levels of government.

NDIS: A senior manager at the National Disability Insurance Agency has told a royal commission that parts of the National Disability Insurance Scheme (NDIS) need to be made more culturally appropriate for Indigenous people.

The inquiry examined the experiences of First Nations people living with disabilities in remote and very remote communities.

COVID-19 surge: Anthony Albanese will meet with state and territory leaders in response to increasing COVID-19 cases across the country.

The snap national cabinet meeting is expected to be held on Monday, following pressure from state and territory leaders for a briefing on the latest medical advice.

Netflix ads: Netflix has chosen an ad partner.

The streaming giant will partner with Microsoft to help roll out its new ad-supported offering later this year.

Twitter fail: Twitter is back online after an hour-long outage kept thousands of users across the globe from accessing the social media website overnight.

The outage affected around 50,000 users around 10:00pm AEST last night.

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