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ASX up, Bitcoin pulls back, Australia accused of climate fraud

·2-min read
The ASX board and Prime Minister Scott Morrison
The local market is set to ensd the week in the green as the Government is accused of climate fraud (Source: Getty)

Good morning.

ASX: The local market it set to reverse weeks of losses after a solid session on Wall Street overnight.

Big tech stocks helped push the market higher yesterday and rise around one per cent for the week.

Wall St: US markets were boosted overnight after Congress was able to reach a truce in the debt-ceiling stand-off.

This helped relieve concerns of the US government potentially defaulting on its debts this month.

BTC: Bitcoin is down around 2 per cent but still ending the week well and truly in the green. Bitcoin is currently worth over $74,000.

Climate fraud: Thinktank, The Australia Institute, is set to accuse the country of climate fraud in a new campaign.

“While the Prime Minister is poised to announce a net zero by 2050 target, we can see from this government's actions that it has little intention of meeting such a target, let alone beating it," the institute's climate and energy program director Richie Merzian said.

"Without putting an end to new gas exploration and new coal mines and a transition plan to power our nation with renewable energy, any purported net zero by 2050 target is a fraud."

Stick to the plan: That is what the Prime Minister Scott Morrison has been urging the states and territories to do as the nation hits another vaccination target.

All states and territories have now fully vaccinated more than 50 per cent of over-16s, with NSW being the first jurisdiction to reach the 70 per cent double-dose threshold.

Morrison said he wants to see the country sticking to the national reopening plan.

$300 million: The Government will hand out a new round of grants to help prop up the tourism industry which has been heavily impacted by lockdowns.

Sports facilities, art trails and garden extensions across regional Australia are set to get a face-lift under the latest $300 million round of a federal government program.

City vs country: Is it better to buy an investment property in a capital city or regional Australia? Here’s a breakdown of where you should be looking to invest.

Have a great day.

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