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ASX to slip as Morrison pushes for 280,000 jobs bonanza

·2-min read
Prime Minister Scott Morrison and the ASX board showing company price changes.
Prime Minister Scott Morrison wants to see 280,000 Aussies in jobs by Christmas. (Source: Getty)

Good morning.

ASX: The local market is expected to fall at the open after US investors were cautious overnight.

This comes after the Australian market had its steepest loss for November for a second consecutive day, dragged down by the Commonwealth Bank.

Wall Street: US indexes fell as investors fretted over early rate hikes by the Federal Reserve.

And credit card company Visa weighed on the Dow after Amazon said it would stop accepting cards issued by the operator in the UK.

BTC: Bitcoin has rebounded overnight to go back above the US$60,000 mark after suffering major losses this week.

VanEck's Bitcoin Strategy exchange-traded fund (ETF), the third Bitcoin-based futures fund to hit the market, rallied in its second day of trading as the volatile but boom cryptocurrency market draws in more investors.

Jobs push: Prime Minister Scott Morrison is banking on a pre-Christmas jobs bonanza as he revs up for a federal election next year.

Morrison said new analysis of Australian Bureau of Statistics (ABS) data based on previous post-lockdown jobs growth showed 280,000 jobs could be filled in the lead-up to the summer holiday season.

Money talks: Finance leaders have said Australia's climate transition will not happen without government policy because money will go where the policy is.

Australia is now at risk of finding itself in "no-man's land", climate change and sustainability services partner at EY Oceania Terence Jeyaretnam said.

Free internet: Families without access to a home internet connection will be eligible for one year of free broadband under a new plan revealed by Labor as election campaigning ramps up.

Schools, state education departments and local community organisations will identify and nominate up to 30,000 eligible families for the plan, to be run through the NBN.

DIY: Apple said it would start selling spare parts and tools to the general public to perform their own repairs on some iPhones and Mac computers.

The self-service repair program comes after years of pressure from consumer groups. Under the self-service program, Apple customers will be able to buy parts directly to perform their own repairs after reading a manual.

Have a great day.

- With AAP

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