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ASX to rise as $50 billion hydrogen plan expands

·2-min read
The ASX board showing company price changes and Prime Minister Scott Morrison driving a hydrogen powered car.
Prime Minister Scott Morrison driving a hydrogen powered car in support of the national hydrogen initiative. (Source: Getty)

Good morning.

ASX: The local market is expected to open in the green today after Wall Street rallied overnight.

This comes after ASX investors proved resilient to overseas gloom in yesterday’s session, with a second consecutive afternoon rally that curbed losses.

Wall St: The Dow and the S&P 500 rebounded overnight, boosted by financials shares and Boeing, as rising cases of the new Omicron variant globally continued to drive volatility across markets.

BTC: Bitcoin was swinging overnight, but still not able to break back through the US$60,000 level.

This comes as a new ETF was launched in the US giving investors exposure to cryptos and NFTs.

Watch more below.

Clean energy: Hydrogen industry developers in Queensland and Western Australia are set to benefit from a federal-government-funded initiative.

The three new clusters will join an existing network of 15 clusters across Australia.

The hydrogen industry is expected to directly support 16,000 jobs by 2050, plus 13,000 jobs from the construction of related renewable energy infrastructure.

It is estimated Australian hydrogen production for export and domestic use could generate more than $50 billion in additional GDP by 2050.

Booster shots: Annual vaccines to tackle COVID-19 will likely be needed to boost population immunity, the boss of pharmaceutical giant Pfizer said.

Albert Bourla said the company was already working on a new jab for the Omicron variant.

"Based on everything I have seen so far, I would say that annual vaccinations ... are likely to be needed to maintain a very robust and very high level of protection," he told the BBC on Thursday.

Jackpot: What would you do with $80 million? One lucky Aussie is asking themselves that question this morning after taking home the entire lottery jackpot yesterday.

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