Australian shares are poised to edge higher as New York started its week with a rally. JPMorgan surged. $A reaches US71¢. Bitcoin at $US30,000.
: Investors are now struggling to find attractive places to park their money. But the grim reality is that, in periods of stagflation, there are no safe havens.Readings on the second estimate of first-quarter US GDP, PCE price index and durable goods data for April are due this week, likely providing clues on how the world’s largest economy is faring amid decades-high inflation.
Broadcom is in talks to acquire cloud service provider VMware in a deal which could transform the chipmaker into a diversified tech firm, people familiar with the matter told Reuters. Siemens Gamesa jumped 6.2 per cent after Siemens Energy launched a €4.05 billion bid for minority holdings in struggling wind turbine unit.China stocks closed down on Monday as Beijing reported 99 new COVID-19 cases - the highest daily tally in the capital during the current outbreak - while profit-taking after two straight weeks of gains also weighed on benchmarks.The blue-chip CSI300 index fell 0.6 per cent, to 4053.98, while the Shanghai Composite Index was almost flat at 3146.86 points.
• In 2021, 12 per cent of adults used or held cryptocurrency in the past 12 months, although a far smaller 3 per cent used it for financial transactions, like buying something, making a payment, or sending money to family of friends.• Forty-six per cent of adults holding cryptocurrency only for investment had an income of $US100,000 or more, while 29 per cent had an income under $50,000. Additionally, 99 per cent of these cryptocurrency investors had a bank account.