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ASX to rise as Suez Canal ship to be stuck for 'weeks'

Jessica Yun
·2-min read
A handout picture released by the Suez Canal Authority on March 24, 2021 shows a part of the Taiwan-owned MV Ever Given (Evergreen), a 400-metre- (1,300-foot-) long and 59-metre wide vessel, lodged sideways and impeding all traffic across the waterway of Egypt's Suez Canal. - A giant container ship ran aground in the Suez Canal after a gust of wind blew it off course, the vessel's operator said on March 24, 2021, bringing marine traffic to a halt along one of the world's busiest trade routes. (Photo by Suez Canal Authority/Handout/AFP via Getty Images)
The Taiwan-owned MV Ever Given (Evergreen), a 400-metre- (1,300-foot-) long and 59-metre wide vessel, lodged sideways and impeding all traffic across the waterway of Egypt's Suez Canal. (Photo by Suez Canal Authority/Handout/AFP via Getty Images)

Good morning.

Here's your Yahoo Finance Friday morning wrap:

ASX: The Australian share market is tipped for a tentative rise after Wall Street rose for the first time in three days overnight.

Wall Street: The Dow Jones Industrial Average rose or 0.62 per cent; the S&P 500 gained 0.53 per cent; and the Nasdaq jumped 0.12 per cent. Here's more from Yahoo Finance US reporter Emily McCormick on what's impacting Wall Street bourses.

Suez Canal situation: The shipping container currently blocking the major man-made trade route "like a beached whale" may be there for weeks. Eight tugs are reportedly working to free the vessel, which is currently creating the biggest shipping jam in years, with more than 150 other container ships being backed up at either end of the canal.

Want to save nearly $500 a month on your mortgage? If you are an existing borrower, you should take advantage of the fierce competition among lenders to bank some serious monthly savings, writes Nicole Pedersen-McKinnon.

26 years. That's how long it'll take for the gender pay gap to close, according to new figures from the Workplace Gender Equality Agency (WGEA) and the Bankwest Curtin Economics Centre. Humans could walk on Mars before pay parity happens.

$26 a week. That's how much more the Australian Council of Trade Unions reckons the minimum wage worker should earn. The ACTU will push for a 3.5 per cent rise in minimum wage and awards for a full-time worker, which amounts to $26.38 a week. Read more here.

"Vastly underestimated". That's what Snapchat's local general manager feels about Australia's Gen Z, a cohort she believes will become Australia's future top earners. Here's what she said.

Restructure to survive. That's the plan for two thirds of small businesses trying to make it on the other side of the coronavirus pandemic. Roughly half of small businesses plan to invest in their own growth. Here's what the twice-yearly ScotPac SME Growth Index, a national survey of 1253 small businesses, found.

Have a great day.

–with AAP

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