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ASX to rise amid embarrassing Trump tweets

Lucy Dean
·3-min read
President Donald Trump speaks about coronavirus testing strategy, in the Rose Garden of the White House, Monday, Sept. 28, 2020, in Washington. (AP Photo/Evan Vucci)
President Donald Trump speaks about coronavirus testing strategy, in the Rose Garden of the White House, Monday, Sept. 28, 2020, in Washington. (AP Photo/Evan Vucci)

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

ASX: The ASX is expected to lift at the open on Tuesday after finishing lower on Monday. Aussie shares will be boosted by an overnight rally on global markets as investors sought out bargain deals in the banking, travel and energy sectors.

Wall Street: Wall Street finished significantly higher on Monday with all three major indexes posting gains following a painful losing streak the week before.

The Dow Jones Industrial Average rose 410.1 points, or 1.51 per cent, to 27,584.06, the S&P 500 gained 53.14 points, or 1.61 per cent, to 3,351.6 and the Nasdaq Composite added 203.96 points, or 1.87 per cent, to 11,117.53.

Budget tax changes: It looks like the 2020 Budget will see tax cuts scheduled for 2022 brought forward. This is what it means for you.

Trump denies: US President Donald Trump has denied the New York Times explosive allegations that he paid as little as US$750 in income tax in 2016 and 2017, saying he has paid “many millions of dollars in taxes".

Trump Twitter nightmare: It comes as past tweets of his criticising others for not paying enough in taxes emerge. Trump in 2013 also tweeted: “Trump is an American that will pay more taxes in one year than you pay in your entire life.”

Childcare: Early education advocates and former politicians are calling on the Government to place childcare at the centre of its 2020 Budget, arguing that greater support for parents and the childcare sector will deliver economic growth.

"Early learning is a smart investment as every $1 of federal government funding returns about $2.16 in increased workplace participation benefits, while giving Australian children the best start in life," Thrive by Five group chief executive Jay Weatherill said.

Crown: A Crown Resorts director has admitted he should have investigated whether a Macau tycoon had been involved in a significant purchase of the company’s stock as an inquiry considers whether the agreement broke the law.

Confidence: Consumer confidence has risen for three weeks in a row, but is still below its monthly average since 1990. New figures released today will show where we’re at now.

Resume: And do you need to stand out from the crowd? Here are the six things you must include in your resume.

With AAP.

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