ASX to open higher, Morrison to reveal new climate policy
Good morning.
ASX: The local market is set to rise for a second day after closing at its highest level since mid-September yesterday.
Wall St: US stocks moved higher overnight as investors awaited a slew of earnings results from the Big Tech companies, as well as a myriad of other corporations across industries this week.
The Dow Jones and S&P 500 set record intraday highs. The Nasdaq gained, and shares of Tesla (TSLA) rallied to an all-time high with a market capitalisation exceeding $1 trillion for the first time.
BTC: Bitcoin rose again overnight, last at around US$62,750, after last week's turbulent trade when it hit a new high of US67,016.
Climate policy: Federal cabinet has signed off on "safeguard" reviews of the economic impact of the Government's 2050 net-zero emissions target on rural and regional communities, ahead of a global climate summit.
Prime Minister Scott Morrison, who will leave this week for the United National COP26 climate summit, said the Productivity Commission reviews will be conducted every five years.
Additionally, it has been revealed the Morrison government has spent nearly $13 million promoting its climate credentials to voters while refusing to release the modelling underpinning its plan to cut emissions.
Crown faces fate: Crown Casino in Victoria will find out whether it can keep its gambling license today.
The royal commission's lead lawyer told the inquiry Crown was not suitable to hold a licence for its Melbourne casino and cast doubt on the company's ability to properly reform its culture.
Facebook torn: Thousands of pages of internal Facebook documents provided to US Congress by a former employee revealed a conflicted company where data on the harms it causes is abundant, but solutions are halting at best.
Watch: Facebook whistleblower fronting Congress
Out of pocket: The cost of tolls on new roads is becoming unsustainable and could be increasing congestion on suburban streets, the NRMA told a NSW parliamentary inquiry.
NRMA policy and public affairs director Robert Giltinan said the "patchwork" of tolls that comprise the road network had created inefficiencies.
Have a great day.
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