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ASX to rise as petrol to cost $100 a week

The ASX board showing company price changes and a sign at a petrol station showing prices.
The ASXis expected to rise this morning as Aussies prepare for higher petrol prices. (Source: Getty)

ASX: The local market is expected to have a positive start this week after a slew of earnings reports gave Wall Street a boost over the weekend.

This comes after the ASX gave up some of last week's gains on Friday but still managed to finish in the green for a fourth week in a row.

Wall Street: US stocks soared on Friday as a rally fueled by lighter-than-expected inflation data helped equity markets log their longest winning streak since November 2021.

Skilled workers: The Business Council of Australia has called for an overhaul of the country's skilled migration system as a way to solve critical shortages.

Ahead of the Government's upcoming jobs and skills summit, council chief executive Jennifer Westacott said well-managed migration was needed in order to drive Australia's prosperity.

Petrol prices: Cash-strapped Aussies filling up at the fuel pump paid an extra $5 a week over the course of the past three months, according to new data.

The Australian Automobile Association's latest Transport Affordability Index, released on Sunday, found average weekly fuel costs across the nation rose to $100.39 in the June quarter.

Father’s Day: Spending on Father's Day gifts has slumped as the rising cost of living sees Aussie consumers rein in purchases for dads across the country.

Australians are set to spend $735 million on Father's Day gifts this year, down 7.7 per cent from 2021, according to the Australian Retail Association.

Aged care: Aged care workers are sceptical that the Federal Government's ambitious planned reforms to the sector can be achieved.

Around half of the 1,100 workers interviewed said they planned to leave the sector within the next three years, according to a report by aged care service consultants CompliSpace.

Retail pain: Fast-moving technologies are having a detrimental effect on retail workers, a survey of staff in the sector found.

Research from the Australian National University and University of Sydney found increased surveillance and the impact of online shopping were among areas having a negative effect on staff.

Back in business: Canberra Airport has resumed normal operations and a man is in custody after a shooting incident inside the terminal prompted its evacuation.

A man was arrested at the airport after firing as many as five shots inside, some leaving bullet holes in airport windows, just after 1.30pm on Sunday.

  • With AAP

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