Yahoo Finance ASX to fall as RBA prepares to respond to inflation data
ASX: The local market is expected to open in the red this morning after higher inflation figures rocked investor confidence in yesterday’s session.
Wall St: It was a lacklustre session on Wall Street overnight with the Nasdaq ending flat and falls in the S&P and Dow.
Right at the close, the S&P 500 lost 0.49 per cent, while the Nasdaq Composite gained 0.02 per cent. The Dow Jones fell 0.73 per cent.
BTC: Bitcoin has fallen further overnight, down around 5.5 per cent and dropping below US$60,000.
Inflation concerns: Reserve Bank deputy governor Guy Debelle will have the opportunity to respond to the latest inflation figures when he faces senators today.
September quarter data showed the annual rate of underlying inflation - which smooths out excessive price swings and is linked to interest rate decisions made by the RBA - unexpectedly jumped to 2.1 per cent.
Inflation is sitting in the RBAs target range and has investors pondering if these figures will change the outlook for when the central bank may lift the cash rate.
Climate shame: Scott Morrison will jet off today for global climate talks hoping to mitigate criticism Australia isn't pulling its weight with a belated 2050 net zero emissions target.
Morrison will bring much weaker climate commitments relative to comparable nations and has ruled out formally increasing the Government’s 2030 emissions reduction target.
Billionaire tax: US billionaires will have to pay tax on unrealised gains from their assets to help finance US President Joe Biden's emerging social-policy and climate-change legislation.
A new proposal, dubbed the ‘billionaires tax’, is part of a two-pronged legislative strategy that also includes a 15 per cent corporate minimum tax on the most profitable US corporations.
It’s a bird, it’s a plane: Nope, it’s a taxi. Passengers flying into Rome from 2024 onwards will be able to go airborne for their taxi ride into the city centre.
The initial cost of a ride will be around 150 euros (AU$233), and will take around 15 minutes, compared with 45 minutes or more by car.
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