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ASX to rise as energy market could be restored

·Personal Finance Editor
·2-min read
The ASX board with company price changes and an energy plant in Australia.
The ASX is expected to rise this morning as the energy crisis appears to be easing. (Source: Getty)

ASX: The local market is expected to open in the green today after world stocks turned positive overnight.

This comes after the Australian share market finally snapped a seven-session losing streak yesterday amid a lift in global sentiment.

Wall Street: US stocks rose on Tuesday as traders returned from a long weekend, with equities recouping some losses following the S&P 500's worst week since March 2020.

Crypto: A new player in the crypto world is taking off - gaming coins.

There has long been a strong overlap between crypto advocates and gamers, and gaming coins further bridge the two.

With gaming coins, players can convert time spent gaming into hard-earned cryptocurrency.

RBA outlook: The risk of a recession in the United States and a spillover into other parts of the world has dominated fears in global financial markets in the past few weeks.

But neither the Reserve Bank nor the Labor Government see that occurring in Australia at this stage, even though the central bank has warned households it will do what it takes to get inflation under control.

Energy crisis: The national energy market could be restored to regular operations by the end of the day, with the operator seeking ways to bring the grid back to normal functions.

The Australian Energy Market Operator said it could end the suspension of the spot market as soon as today, if key conditions were met.

Be prepared: Australia will provide money as part of a new global fund to help protect countries against future pandemics.

Speaking at a G20 virtual meeting, Health Minister Mark Butler and Treasurer Jim Chalmers said the Government would contribute to the new financial intermediary fund.

Strike: Thousands of NSW teachers will strike next week after the state Budget failed to deliver an improved pay offer.

Unions representing public and Catholic school teachers met on Tuesday as the NSW Budget was handed down, announcing they would strike for 24 hours on June 30.

Rain, rain, go away: La Nina has officially ended after a shift in the Pacific Ocean, but meteorologists warn it could be back later in the year.

The Bureau of Meteorology declared the weather pattern finally over yesterday, after months of heavy rainfall across Australia.

- With AAP

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