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ASX to lift as disasters cost Aussies $1,500 each

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and a person removing $100 from a wallet.
The ASX is expected to rise this morning as a new report details the individual cost of climate disasters. (Source: Getty)

ASX: The local market is expected to rise this morning after Wall Street rallied overnight.

This comes after the ASX fell to a seven-week low as fears of aggressive interest rate hikes weighed on sentiment.

Wall Street: US stocks charged forward on Wednesday as Wall Street clawed back from a three-week sell-off across equity markets.

RBA: A speech by the head of the central bank may offer more clues on how fast and high interest rates will rise.

Reserve Bank of Australia governor Philip Lowe is due to speak today about where the economy is headed and the role of monetary policy.

Climate cost: Deadly floods and natural disasters this year have cost each Australian household $1,532, a new report found.

The hefty sum per household went to taxes, insurance costs, uninsured damage and increased prices due to supply chain shortages.

Poverty: Unions and welfare advocates will work together to lift people out of poverty, secure full employment and remove barriers to women's workforce participation under a new agreement.

These include raising the jobseeker payment from $46 to $70 a day, reforming employment services for Indigenous Australians and creating a simpler bargaining system.

Economic future: Achieving equality for Australian women, particularly in terms of pay, is essential to the nation's economic future, Prime Minister Anthony Albanese will declare.

Albanese plans to emphasise the issue in a speech to business leaders in Canberra today.

Apple unveils: Apple has introduced a range of new iPhone 14 models capable of using satellites to send emergency messages and an adventure-focused Ultra Watch.

The iPhone 14 models will test Apple's ability to wring dollars from its relatively affluent customer base, which has kept spending in the face of rising inflation but is not immune to a weakening economy.

Glitz and glamour: The Federal Parliamentary Press Gallery Midwinter Ball in Canberra brings together Australia's political, journalistic and corporate heavyweights under one roof but it has not been without controversy.

Top auction items such as a $5,000 game of tennis with Prime Minister Anthony Albanese and dinner with Foreign Minister Penny Wong and Environment Minister Tanya Plibersek have already been snapped up.

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