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ASX to rise as Great Barrier Reef gets $1 billion boost

·2-min read
The ASX board with company price changes and underwater coral and tropical fish.
The ASX is set to open higher this morning as the Government pledges to save the reef. (Source: Getty)

ASX: The local market is expected to get a much needed boost this morning after a volatile session on Wall Street.

This comes after the ASX entered a technical recession yesterday, down over 10 per cent from its August 2021 highs.

Wall Street: Wall Street’s major indexes U-turned overnight to erase earlier gains, continuing a streak of recent volatility.

Investors were torn as they weighed upbeat data out of Washington that pointed to a strengthening economic recovery alongside Wednesday's Federal Reserve update.

BTC: Bitcoin fell around 2 per cent last night bottoming out around US$35,698 and hitting a high of around US$37,052.

Cash splash: The Morrison Government has pledged another $1 billion to protect the Great Barrier Reef after successfully lobbying UNESCO to delay a decision about listing the World Heritage site as "in danger".

Maccas: McDonald's ended 2021 on a high note with US customers spending more and fewer restaurant closures in Europe from coronavirus restrictions.

But lockdown restrictions in Australia and China saw the fast food chain take a massive hit.

Sneaker heads: The sneaker market has emerged as a thriving alternative asset class, according to Cowen Equity Research.

And the sneaker resale market could now potentially reach US$30 billion by 2030.

7 tips: With so much money advice around, it’s hard to know what will really make a change for the better.

Here are seven money tips that have changed seven people's lives.

Ants vs lizards: Australia’s lizards are in danger of being wiped out by ant invaders.

Yellow crazy ants can essentially wipe out some native lizards, and researchers fear what the acid-spraying invader might do to Australia's smallest frogs.

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