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ASX to rise as petrol prices push towards record highs

·Personal Finance Editor
·2-min read
A sign out of the front of a petrol station indicating the price for fuel and the ASX board showing company price changes.
The ASX is expected to open higher today as petrol prices creep back up to record highs. (Source: Getty)

ASX: The local market is expected to get a boost this morning after a positive session on Wall Street overnight.

This comes after the ASX finished flat yesterday after early gains were made following the outcome of the federal election.

Wall Street: US stocks rose on Monday, with equities coming off a seven-week losing streak as investors shook off some recent volatility and digested fresh trade-related remarks from the Biden administration.

Quad meeting: Anthony Albanese has touched town in Tokyo and will join high-level talks with the leaders of the United States, Japan and India.

In his first international trip, the newly sworn-in Prime Minister will meet with Joe Biden, Fumio Kishida and Narendra Modi today as part of the Quadrilateral Security Dialogue to discuss security issues in the Indo-Pacific.

Petrol surge: Signs that petrol prices are heading back to the record highs seen in March are likely to weigh on the mood of Australians after the outgoing Coalition government's much-touted fuel excise cut provided only limited support.

Super settlement: A class action brought against Suncorp over excessive superannuation commissions has settled in the NSW Supreme Court.

The settlement was announced on the first day of a hearing in which Suncorp was accused of paying commissions that negatively impacted customer offerings and led to higher fees.

Impact of war: Vladimir Putin has launched a war on just one nation, Ukraine, but the Russian president’s vicious military campaign is punishing people in many countries, including some of the world’s most vulnerable.

With no end in sight, the war’s economic toll could become devastating in some parts of the world by the middle and end of 2022.

Buffett tips: Warren Buffett is arguably the best-known, most-respected investor of all time.

Buffett is also known for his folksy charm and his memorable quotes about the art of investing. Here are 10 genius things Buffett has said you should do with your money.

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