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ASX set to rise, Aussie state named world’s best economy

Lucy Dean
·2-min read
This state has been named the strongest economy in the world. Image: Getty.
This state has been named the strongest economy in the world. Image: Getty.

Good morning.

Here’s Yahoo Finance’s wrap for Tuesday.

ASX: The ASX is expected to climb on Tuesday morning following a mixed lead from Wall Street overnight.

The ASX finished higher on Monday. The S&P/ASX200 benchmark index closed higher 28.8 points, or 0.43 per cent, to 6739.6 on Monday.

The All Ordinaries closed higher by 28.6 points, or 0.41 per cent, at 6971.6.

Wall Street: US markets had a mixed finish on Monday as investors await a major $2.5 trillion COVID-19 relief bill.

The Dow Jones Industrial Average rose 306.14 points, or 0.97 per cent, to 31,802.44, the S&P 500 lost 20.59 points, or 0.54 per cent, to 3,821.35 and the Nasdaq Composite dropped 310.99 points, or 2.41 per cent, to 12,609.16.

Shares in GameStop have also begun to rise again.

Wage subsidy: The Government will remove the cap on the number of wage subsidies under its Boosting Apprenticeship Commencements scheme. It estimates 70,000 apprenticeship roles will be created.

Trading apps: They’re in the spotlight after the GameStop saga, but are trading apps worth your time? According to David Taylor the answer is yes, and no. More here.

Bamboo ceiling: You’ve heard of the glass ceiling, but have you heard of the bamboo ceiling? It’s the workplace phenomenon preventing Asian workers from rising to the tops of their fields, but it affects other cultural backgrounds too. Here’s what you need to know.

Stop fixing women: Many workplace leadership policies are designed with one type of leader in mind, and according to an expert, that’s “pale, stale and male”. This is why we need a radical rethink of the leadership mould.

The best economy in the world: Ratings agency S&P has named Western Australia as the state with the best economy in the world. It found that Western Australia’s debt as a percentage of operating revenue is the lowest in the world, while consumer confidence in the Australian state is also at an 11-year high.

"We've turned around the finances, turned $3 billion deficits into $3 billion surpluses, kept the mining industry - and the royalties that come from it - open at the height of the pandemic," Premier Mark McGowan said.

Have a great day.

With AAP.