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Stocks recover, restricted travel until 2024, Turnbull fronts media diversity inquiry

Samantha Menzies
·Contributing editor
·2-min read
Aussie markets look up but travel outlook pushed back. Source: Getty
Aussie markets look up but travel outlook pushed back. Source: Getty

Good morning.

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

ASX: The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 6 points or 0.1 per cent higher this morning.

Wall St: Wall Street closed higher at the close on Friday. The Dow Jones rose 0.9 per cent, the S&P 500 climbed 0.8 per cent, and the Nasdaq pushed 0.5 per cent higher. The Dow hit a record high after adding 2 per cent for the week.

AUD: The Australian dollar is trading at 0.7616 to the US dollar as at 7.15am this morning.

Oil: According to Bloomberg, the WTI crude oil price fell 0.5 per cent to US$59.32 a barrel and the Brent crude oil price dropped 0.4 per cent to US$62.95 a barrel. Oil prices fell after its supply outlook outweighed rising demand.

Gold: According to CNBC, the spot gold price fell 0.75 per cent to US$1,744.80 an ounce. Rising bond yields weighed on the precious metal.

Super access: Accessing your superannuation pot early is nearly impossible, unless you fall into one of these four categories. Here's how do to it, without getting in trouble with the ATO.

Travel: A new report has warned that international travel for Australians is likely to remain restrictive until 2024. Deloitte Access Economics' quarterly business outlook - printed prior to the Morrison government's vaccination program being thrown into disarray late last week - expects international borders will re-open only gradually.

Media diversity inquiry: Malcolm Turnbull will share his own insights about the power of Australian media moguls to make and break prime ministers when he fronts a media diversity inquiry. Ousted as prime minister, and more recently and rapidly as climate tsar in NSW, Turnbull is scheduled to give evidence today (Monday). He blames News Corp and radio shock jocks for helping to fuel his demise.

Electric cars: Australian Industry Group chief executive Innes Willox says new taxes on electric vehicle usage that are being developed in several states is putting "the cart before the horse" and that instead businesses should be supporting businesses and individuals to buy the cars. He believes such taxes should not be implemented until clean vehicles are better established and the taxes are better designed.

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