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ASX to start flat as new JobSeeker rate to be announced

Jessica Yun
·2-min read
Hands holding australian dollars 50 banknotes. Finance and payment concept.
The new JobSeeker rate is expected to be announced today. (Source: Getty) (Daria Nipot via Getty Images)

Good morning.

Here's your Yahoo Finance Tuesday morning wrap:

ASX: The Australian share market is set to open flat off the back of Wall Street's mixed results as investors get spooked by rising inflation.

At the time of writing, the Dow Jones was up 0.32 per cent, but the NASDAQ and S&P500 were both down by 1.95 per cent and 0.48 per cent respectively.

AUD: The Aussie dollar is trading at 79.2 US cents.

Keep your eyes peeled: An official announcement on a new JobSeeker rate is about to be announced today, according to Sydney Morning Herald and Guardian reports. According to the latter, we can expect an increase of $50 a fortnight. Deloitte data reveals that an $80-a-fortnight increase would cost the Government budget less than $3 billion a year. When that announcement happens, we'll bring you the news.

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The vaccine roll-out is underway in Australia, but the leader of the World Health Organisation is urging rich countries to check themselves before ordering extra COVID-19 vaccines to ensure they're not undermining poorer countries' efforts to obtain the vaccine.

The spotlight is still on Crown Casino. The Victorian Government has called a royal commission into Crown Resorts and its fitness to hold a Victorian license.

$2.74 billion: That's how much bushfire funding has been announced – but only 48 per cent of that has actually been delivered. That's according to a report titled 'Smokescreen' produced by Per Capita commissioned by by political activist group GetUp.

Trump taxes: We're one step closer to finding out the truth about the former US President's taxes, which he has taken great pains to conceal. More here.

Have a great day.

–with AAP

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