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ASX to rise, YouTube bans anti-vaccine content amid FedEx strike

·Contributing editor
·2-min read
Deliveries will be affected after about 2500 FedEx workers began a 24-hour strike at midnight over job security. Source: Getty
Deliveries will be affected after about 2500 FedEx workers began a 24-hour strike at midnight over job security. Source: Getty

Good morning.

Here's what you need to know about finance markets for today.

ASX: The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2 per cent higher this morning.

Wall Street: It was a mixed night of trade on Wall Street, which saw the Dow Jones rise 0.25 per cent, the S&P 500 climb 0.15 per cent, and the Nasdaq fall 0.25 per cent.

AUD: The Australian dollar is trading at 0.7174 to the US dollar as at 6.30am this morning.

Debt ceiling: At 12:01am Friday the ‘debt ceiling’ in the United States will need to be raised and if not the US Government will be shut down. The event has been flagged by US Treasury Secretary Janet Yellen as potentially “catastrophic” and US Federal Reserve chair Jereome Powell warned it could cause “severe damage”. Here's everything you need to know.

Evergrande: At least some of China Evergrande's offshore bondholders have not received a due coupon payment by the close of business, sources say, although the cash-strapped developer reached a US$1.5 billion (A$2.1 billion) deal to settle debt with a Chinese bank. The company, once China's top-selling developer and now expected to be one of the largest-ever restructurings in the country, has been prioritising domestic creditors over offshore bondholders.

YouTube: YouTube says it will block all anti-vaccine content, moving beyond its ban on what it calls misinformation about COVID-19 jabs to also include content about other approved vaccines.

FedEx: Thousands of workers at a major parcel delivery service have walked off the job across the country, putting more pressure on the nation's stretched postal system. Deliveries will be affected after about 2500 FedEx workers began a 24-hour strike at midnight over job security.

Housing market: The next couple of days will see a suite of economic indicators to provide an update on the state of Australia's booming housing market in terms of prices, lending and building. There are rising worries about the impact of record low interest rates on lending as borrowers chase ever-increasing house prices.

Coffee: Coffee drinkers could soon be paying more for a caffeine hit, or be served a poorer-quality brew instead, as global price hikes hit the local coffee industry. The "world price of coffee" has surged 21.6 per cent this year to $3.65 a kilogram, according to IBISWorld, driven by climate change and global supply chain issues.

Have a great day.

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