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ASX to rise as White Ribbon returns

Lucy Dean
·2-min read
The ASX is set to rise on Wednesday. (Photo by Jenny Evans/Getty Images)
The ASX is set to rise on Wednesday. (Photo by Jenny Evans/Getty Images)

Good morning.

Here’s Yahoo Finance’s Wednesday morning wrap.

ASX: The ASX is expected to rise on Wednesday morning following positive US data showing the pace of manufacturing contraction slowed in June.

The Australian SPI 200 futures contract was higher by 4.0 points, or 0.07 per cent, to 5,929.0 at 0700 AEST on Wednesday.

Wall Street: Wall Street’s three major indexes closed higher on Tuesday on that same manufacturing data, with the Nasdaq closing at yet another record high.

“The cumulative effect of the economic data we've been seeing is helping to support the V-shaped rally we've had in stocks,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott told AAP.

Jobs: Australians are no longer seeking out jobs in their industry alone, new LinkedIn data has revealed. Instead, Aussies in the industries hardest hit by the virus are looking to new industries in droves.

Business groups: JobKeeper payments are set to wind up in September but Australian business groups will on Wednesday make the case for the support payments to continue for longer.

Pressure: So you just made the highest-grossing animated film of all time. What next? For Disney’s Chris Buck, the answer was to break his own record.

Woolworths: Thousands of jobs will be phased out at Woolworths as it moves to a robotic workforce. More here.

White Ribbon: And White Ribbon is back. The domestic violence charity will be led by mental health and LGBTIQA+ advocate and convenor of the Family and Domestic Violence Advocacy Network in South Australia, Brad Chilcott. The charity will have a renewed focus on grassroots efforts.

The charity went under in October 2019. At the time, it was $840,000 in the red. Its failure was met with positivity amid claims it had been hoarding domestic violence funding and didn’t support women’s bodily autonomy.

Have a great day.

With AAP.

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