ASX to rise as warning issued over Microsoft email hack

Australian organisations have been warned to protect their systems from being hacked. (Source: Getty) (Wachiwit via Getty Images)

Good morning.

Here's your Yahoo Finance Wednesday morning wrap:

ASX: The Australian share market is set to open in the green after Wall Street recorded positive – yet mixed – results as investors tilt away from tech stocks in favour of value and cyclical stocks tied to a strong economic recovery.

Wall Street: Overnight, the NASDAQ hit highs of more than 4 per cent before closing up 3.69 per cent, while the S&P 500 was up 1.42 per cent and Dow Jones up closed relatively flat at 0.096 per cent. More from Yahoo Finance US reporter Emily McCormick here.

AUD: The Aussie dollar is trading at around 77.1 US cents today.

Act now. That's the message of Australia's leading cyber security agency about the Chinese hacker attack on Microsoft servers (we reported on this on Saturday). Australian organisations have been impacted – and some are still vulnerable. Here's what you need to know and do.

The job of the Federal Attorney-General hangs in the balance. The PM has said multiple times he won't hold an independent inquiry into the rape allegations against Christian Porter, which he's categorically denied, but a leading legal academic has said there's ample scope for Morrison to hold the inquiry. Monash University's Associate Professor Luke Beck had some interesting things to say.

Qantas' CEO wants borders opened up. That's not surprising, but Alan Joyce said that long-term border closures would lead tourists and students to turn their backs on Australia, which would hamstring Australia's economy. Here's what he said.

GDP figures: The unexpectedly strong figures came out last week, and Reserve Bank Governor Philip Lowe is expected to address them at a summit today. Here's some background about Australia's economic recovery so far.

Remember Mathias Cormann? He was Australia's Federal Finance Minister until last year, when he resigned from the job. He's now vying to become the new chief of the OECD – but the heads of 30 Australian and global charities and research institutions have signed a letter saying Cormann's got a track record of "thwarting effective climate action". More on this here.

Have a great day.

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