Australia markets closed
  • ALL ORDS

    7,288.80
    -36.60 (-0.50%)
     
  • ASX 200

    7,032.50
    -38.50 (-0.54%)
     
  • AUD/USD

    0.7125
    +0.0017 (+0.24%)
     
  • OIL

    91.88
    -2.46 (-2.61%)
     
  • GOLD

    1,818.90
    +11.70 (+0.65%)
     
  • BTC-AUD

    34,634.53
    +815.16 (+2.41%)
     
  • CMC Crypto 200

    574.64
    +3.36 (+0.59%)
     
  • AUD/EUR

    0.6940
    +0.0061 (+0.89%)
     
  • AUD/NZD

    1.1028
    -0.0019 (-0.17%)
     
  • NZX 50

    11,730.52
    -29.49 (-0.25%)
     
  • NASDAQ

    13,565.87
    +273.89 (+2.06%)
     
  • FTSE

    7,500.89
    +34.98 (+0.47%)
     
  • Dow Jones

    33,761.05
    +424.38 (+1.27%)
     
  • DAX

    13,795.85
    +101.34 (+0.74%)
     
  • Hang Seng

    20,175.62
    +93.19 (+0.46%)
     
  • NIKKEI 225

    28,546.98
    +727.65 (+2.62%)
     

ASX to rise as Morrison brings Budget forward

·Personal Finance Editor
·2-min read
Prime Minister Scott Morrison holds a press conference with Treasurer Josh Frydenberg. ASX
Prime Minister Scott Morrison has brought forward the Federal Budget to March. (Source: Getty)

Good morning.

ASX: The local market is expected to rise this morning after Wall Street shook off Omicron fears.

This comes after the market took a hit in yesterday’s session. Travel shares Corporate Travel Management, Qantas and Webjet shed at least 2 per cent.

Energy, financial, industrial and property shares lost more than 1 per cent each following similar slides on global markets.

Wall St: Gains in heavyweight technology stocks drove Wall Street higher overnight as investors rushed to take advantage of steep virus-driven losses.

BTC: Bitcoin rallied more than 6 per cent overnight after slumping on Black Friday.

Change in leadership: Twitter co-founder and CEO Jack Dorsey has resigned from his position at the social media platform.

Twitter’s chief technology officer, Parag Agrawal, will be taking over as the new CEO.

Federal Budget: The Federal Budget will be brought forward to 29 March, 2022, as the Prime Minister weighs up an election in early May.

Budgets are normally delivered in May. Scott Morrison used the same tactic in 2019, bringing forward the budget to 2 April before seeking an election date nine days later.

Unexpected consequences: Australia’s strained relationship with China has led to other nations growing closer.

New analysis suggests there is actually greater integration between China and the rest of the world, including with countries Australia sees as strategic friends.

Back to the office?: Businesses are finding it hard to hold on to staff, and it would seem working from home has caused a rift.

Despite the popularity of working from home during the pandemic, almost two thirds of businesses want their staff back in the office for most of the working week.

However, more than half have not consulted staff about their preferred working arrangements.

Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting