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ASX to open flat while Aussie homeowners fear rate rises

·2-min read
Aerial view of a suburb and the ASX board.
The majority of homeowners have said they could not financially handle a 1 per cent rate rise. (Source: Getty)

Good morning.

ASX: The local market is expected to stay flat at the open after mixed overseas leads.

This comes after The Aussie share market snapped a four-day losing streak on Friday. Investor’s eased concerns about China's debt-laden property sector, prompting a jump in local mining stocks.

Wall St: Wall Street closed higher on Friday, after market-leading growth shares kick-started a climb in stocks as investors looked past disappointing US economic data.

Despite their advances, all three major US stock indexes ended the session below last Friday's close, ending a five-week streak of weekly gains.

BTC: With Bitcoin (BTC-USD) and Ethereum (ETH-USD) hovering near all-time highs, many analysts are bullish that the crypto space will continue its rapid growth and ascension for the remainder of the year.

On the brink: Two-thirds of Aussie homeowners are not prepared for a mortgage rate rise.

A new survey found around half of those surveyed said they would need to look at refinancing their home if their mortgage repayments went up $300 a month.

When asked whether they would be able to meet such an increase, 57 per cent answered "not at all".

‘Stuck in the past’: Australia remains stuck in the past while other nations rise to the challenge posed by rising temperatures, according to climate action campaigners following the COP26 talks.

The talks ended with a global agreement that keeps alive the goal of capping warming at 1.5C to prevent catastrophic climate change.

Hack attack: Cyber crime has been on the rise and it seems that even the experts are not exempt.

Hackers have compromised a Federal Bureau of Investigation (FBI) email system and sent tens of thousands of messages warning of a possible cyber attack, according to the agency and security specialists.

Duty free: Australians embarking on an overseas trip can once again snag a bargain at the airport.

Health Minister Greg Hunt said high levels of vaccinations have allowed the removal of restrictions on retail outlets at Australia's international airports.

"Duty free is back on. It's an incremental but important step," Hunt told ABC's Insiders program.

Have a great day.

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