Yahoo Finance ASX to rise, Morrison banks on turnaround in COVID-19 response
Good morning.
Here's what you need to know about finance markets for today.
ASX: The Australian share market looks set to bounce back on Monday supported by an expected rebound of iron ore prices. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.5 per cent higher this morning.
Global markets: It was a solid end to the week on Wall Street shares which saw the Dow Jones rise 0.65 per cent, S&P 500 increase 0.8 per cent and Nasdaq hike 1.2 per cent lower.
Aussie dollar: The Australian dollar has dropped futher, trading at 0.7126 to the US dollar as at 7am this morning.
New restrictions: Sydney and Melbourne face new tigher restrictions in effort to curb the latest COVID-19 Delta outbreak. Victoria has announced only essential workers can use childcare services while those living in NSW now have mandated masks outside the home, and a curfew in hotspots.
Gear change: Scott Morrison is banking on a "gear change" in the COVID-19 response not only to help the country exit the pandemic but also to lift the coalition's stocks as he considers when to call an election.
China vs Australia: The Senate will be asked on Monday to send a blunt message to China over its widespread use of Uighur forced labour. Independent senator Rex Patrick will seek cross-party support for his bill to ban the import of goods produced in whole or part by forced labour.
Have a great day.
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