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Wall Street gains as tech stocks roar back

NEW YORK CITY, RAW – The Nasdaq has ended at a record high, lifted by Amazon, Microsoft and other top-shelf tech companies as investors shifted their focus to growth stocks. Microsoft rose 1.1 per cent and its stock market value briefly breached $US2 trillion ($A2.6 trillion) for the first timewhile Apple, Facebook and Amazon also…

Aust shares have biggest rise since March

SYDNEY, AAP – Investors had their best day since March and regained most of Monday’s losses on the Australian market. The benchmark S&P/ASX200 index closed up 1.48 per cent after the heavyweight categories of financials and materials rose by about two per cent. Investors returned to the market after Monday’s loss of 1.81 per cent….

NSW COVID bill hits $4b, more to come

SYDNEY, AAP – The bill for NSW’s COVID-19 management has reached $4 billion, with another $1.1 billion set aside in the 2021/22 budget to continue the state’s virus suppression and vaccine rollout efforts. NSW Health received a total of $30.2 billion in Tuesday’s budget, made up of $27.1 billion in recurrent expenditure and $3.1 billion…

Nuclear waste facility still up for grabs

CANBERRA, AAP – Federal resources minister Keith Pitt has folded on a bill that would have locked in South Australia’s Kimba community for a nuclear waste dump. The legislation passed on Tuesday with Labor’s support after a specific site for a new facility was removed. The minister can now issue an “intention to declare” a…

Nationals in bid for climate policy payout

CANBERRA, AAP – The Nationals are open to discussing the prime minister’s preference for net zero carbon emissions by 2050, but they want to square the ledger for the regions. “We get it all right but we are not going to trade ourselves away until we can see the detail and see what we can…

CommSec Daily Report Tuesday

Latest news Aussie shares are bouncing back strongly from Monday’s slump, with the ASX 200 lifting by 1.4 per cent at midday thanks to gains across almost all sectors and a lift from the US bourse overnight. This follows Monday’s 1.8 per cent tumble, which was the Aussie market’s largest decline in a month and…

Stocks bounce from four-week lows

SINGAPORE, RAW – Global shares have extended their recovery, with Asian markets bouncing from four-week lows as investor focus on economic growth partly offset worries about any near-term rise in US interest rates. The early momentum in the region was supported by a rally on Wall Street, with the Dow registering its strongest session in…

Consumer inflation expectations hit 14-month high

Consumer inflation expectations hit 14-month high Consumer sentiment; Weekly payroll & jobs • What happened? The weekly ANZ-Roy Morgan consumer confidence rating rose by 1.3 per cent to 112.4 (long-run average since 1990 is 112.6). Consumer inflation expectations over the next two years rose from 3.9 per cent to a 14-month high of 4.2 per…

Banks, miners lead ASX rebound

SYDNEY, AAP – Australian shares jumped more than one per cent as the ASX rebounded from its biggest loss in more than four weeks. The benchmark S&P/ASX200 index was higher by 96.7 points, or 1.33 per cent, to 7332.0 at 1200 AEST on Tuesday. The All Ordinaries was up by 99.8 points, or 1.33 per…

Crypto allowed at rare diamond auction

LOS ANGELES, PAA – International auction house Sotheby’s says it will accept cryptocurrency as payment for a rare 101-carat diamond expected to fetch up to $US15 million ($A20m). The world-famous broker said it was the first time a stone of such value had been offered for purchase by cryptocurrency, and hailed the move as a…