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ASX to rise as 18,000 teachers strike

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and teachers striking in NSW.
The ASX is expected to rise this morning as teachers prepare to strike. (Source: Getty)

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

This comes after a solid day for the big banks and consumer-facing companies yesterday, which lifted the local share market, although gains faded somewhat in the final minutes of trading.

Wall Street: US stocks pushed higher at the close of a choppy session on Wednesday as investors considered the impact of inflation on company earnings alongside the Federal Reserve's latest comments about using their policies to rein in rising prices.

Crypto: A US regulator said hype was a serious risk for cryptocurrencies and likened certain crypto transactions to Ponzi schemes, warning that the crypto space was very dangerous for investors of modest means.

Pacific ties: China is seeking security arrangements with island nations across the Pacific that resemble the controversial pact struck with Solomon Islands.

The move has triggered concern in Australia and its allies, including the United States.

New Foreign Minister Penny Wong will fly to Fiji to help solidify the new Government's relationship with Australia's Pacific neighbour.

Teachers strike: About 18,000 teachers and support staff from 540 Catholic diocesan schools in NSW and the ACT are preparing to strike for 24 hours over pay and conditions.

The Independent Education Union said its members would stop work on Friday to march at 10 rallies throughout NSW and the ACT.

It's the first full-day stoppage by Catholic school teachers in 18 years.

Personal robots: Amazon has released its first in-home robot for personal use.

Astro is a pint-sized robot with built-in sensors to help it navigate your home, as well as a periscope camera that pops up and allows you to do things like video chat with family and friends, or use it as a security bot.

Russia default: Russia said it would pay its foreign debt in rubles, a move that is likely to be seen by foreign investors as a default.

Russia has not defaulted on its international debts since the 1917 Bolshevik Revolution, when the Russian Empire collapsed and the Soviet Union was created.

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