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ASX to rise as Russia’s invasion hits global growth

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Russian tanks and the ASX board showing company price movements.
The ASX is expected to rise out of the gate as The World Bank issues a serious warning over Ukraine. (Source: Getty)

ASX: The local market is expected to rise this morning after a lackluster session in the US overnight.

This comes as the market reopens after a four-day break for the Easter long weekend.

Wall Street: US stocks declined to close a choppy session slightly lower on Monday as investors returned from a holiday weekend and geared up for another busy week of corporate earnings results.

Crypto: The Ronin Network said North Korean cyber criminals were behind the $540 million crypto hack (at time of theft) it experienced last month after US law enforcement provided a key link.

Rates: Economists will be scouring the minutes of the Reserve Bank board's most recent meeting for hints on whether interest rates could rise soon.

The minutes of the RBA board's April monetary policy meeting will be released at 11.30am AEST.

Global outlook: The World Bank lowered its projection for the rate of global economic growth in 2022, from 4.1 per cent to 3.2 per cent, citing Russia’s invasion of Ukraine as being a key issue.

This comes after the head of the International Monetary Fund warned Russia's war against Ukraine was weakening the economic prospects for most of the world's countries and called high inflation "a clear and present danger'' to the global economy.

Welcome back: Luxury cruise ship Pacific Explorer has pulled into Sydney Harbour, making it the first to return to Australian shores since a ban triggered by the COVID-19 pandemic in March 2020.

The $400 million luxury liner arrived in Sydney on Monday following a 28-day voyage from Europe, where it has been anchored for most of the past two years.

Coal for health: Deputy Prime Minister Barnaby Joyce said it was vital not to lose sight of how to pay for health and welfare as voters head to the polls on May 21.

Throwing his support behind more coal development, Joyce said a coalition government would invest in "the things that make us money".

Biden taxes: President Joe Biden and vice-president Kamala Harris have released the completed tax returns from their first year in office.

In a notable contrast to former president Donald Trump, Biden has now made 24 years of his tax returns public. Harris has released 18 years of her returns.

This is how much they made and paid.

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