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ASX to fall as Morrison and Albanese knock heads on wage rises

·2-min read
The ASX board showing company price changes and Scott Morrison and Anthony Albanese in mid-debate.
The ASX is expected to open down this morning after Morrison and Albanese went head to head on wages rises. (Source: Getty)

ASX: The local market is expected to open lower this morning after Wall Street’s losses accelerated.

This comes after the Australian share market finished in the green for the first time since last Thursday, ahead of key US inflation data that was released overnight.

Wall Street: US stocks dropped sharply on Wednesday as investors digested a key report on the state of inflation in the US, which came in hotter than expected across most major metrics.

Crypto: Bitcoin and Ethereum are now at their lowest levels since July 2021—and both are trading for less than half of what they were worth last November.

But long-term investors are still very much in the green. Here’s how much $1,000 would be worth now if you had invested in it a few years ago.

Federal election: Scott Morrison and Anthony Albanese have gone head to head in the third and final leaders debate, trading barbs on wages growth and cost-of-living pressures.

Here’s what each party leader had to say.

Drink and dial: An online wine retailer has been fined more than $200,000 for breaching spam and telemarketing laws.

The Wine Group, which retails as Oak Road Estate and Top Drop, sent unsolicited texts to customers who had unsubscribed, and made telemarketing calls to phones on the Do Not Call register.

Plan needed: Switching to electric cars, vans and buses is the easiest route to cleaner transport but Australia needs to get in the fast lane with a national plan, a new report has warned.

Australia faces failure on emissions-reduction commitments without fuel-efficiency standards, road-tax reform, and a deadline for phasing out of petrol and diesel vehicles, according to research released on Wednesday.

Supply chain: A pioneer in big batteries has selected three Australian companies to help build its own lithium-ion battery supply chain.

While the Federal Government and Opposition tout the benefits of world-leading critical minerals and local manufacturing, the company is set to be the first in Australia to walk the talk and make commercial-scale lithium-ion batteries.

Wheat genes: An Australian-led team of international researchers has discovered a gene in wheat that helps produce higher-quality crops.

The scientists say the discovery could lead to increasing protein in wheat by up to 25 per cent with the potential to help improve its nutritional and economic value.

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