Australia markets closed

ASX to rise despite virus concerns

ASX to rise despite virus concerns. Source: Getty

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

The ASX is set to rise at the open of trade, after Wall Street’s three major indexes closed higher on stimulus hopes.

Investors in Australia will be watching for international trade figures from May to assess how the economy is faring during turbulent times.

One Australian dollar was buying 69.08 US cents at 0700 AEST, up from 68.58 US cents at the close of trade on Monday.

In the US, stocks finished higher, with the biggest gains in the tech sector, as investors focused on government stimulus measures and not the spike in coronavirus cases.

The Dow Jones Industrial Average rose 153.5 points on Monday, or 0.59 per cent, to 26,024.96, the S&P 500 gained 20.12 points, or 0.65 per cent, to 3,117.86 and the Nasdaq Composite added 110.35 points, or 1.11 per cent, to 10,056.48.

Gold drives ahead: Spot gold settled at the highest since 2012, as concerns mount over a second wave of coronavirus infections.

The metal also was boosted by stimulus measures, including the Bank of England adding to its bond buying program last week and the Federal Reserve signalling rates will remain low.

Apple’s new release: Apple has unveiled iOS 14, the latest version of the software that powers millions of iPhones around the world.

The update, which will launch later this year, will bring a host of new features to the iPhone including an updated home screen layout and improvements to the company’s Messages app. Here’s what’s in store.

The big HomeBuilder question: Will the grant get the desired results? Property expert Michael Yardney investigates whether the grant will genuinely prop up the housing industry, and ultimately see an upswing in economic activity.

The Vatican is off fossil fuels: The Vatican has called on the private sector and Catholic investors to ditch investments in arms and fossil fuels in a radical push for sustainability. Here’s what Pope Francis said.

Should wealthy people pay larger fines? Some welfare recipients will be able to apply to have their fines halved under a new plan aimed at mitigating the financial pain from coronavirus. 

Is this the beginning of a progressive penalty system that could see fines indexed to match different income levels?

Have a great day.

Yahoo Finance Breakfast Club episode 7.

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