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Live updates: Oil prices in focus after Hamas attack, ASX to rise after stronger jobs data and tech stocks rally on Wall Street

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The ASX is set to open higher at the beginning of trade on Monday after strong jobs data and tech stocks rallied on Wall Street on Friday, while oil prices are keenly in focus in response to Hamas's attack on Israel. Follow live.

Former Liberal treasurer Peter Costello won't be seeking a third term as chairman of the federal government's Future Fund. A spokesman for Treasurer Jim Chalmers has confirmed Mr Costello's stint, first as a board member, then as chair, will end in February after 14 years.

Mr Costello's decision to step down follows renewal at top institutions including the Reserve Bank and the P roductivity Commission. The spokesman thanked Mr Costello for 'his significant contribution' and said a merit-based recruitment process will now commence to appoint a new Chair. Mr Costello established the sovereign wealth fund as John Howard's Treasurer in 2006 with $60 billion of budget surpluses and part of the proceeds from the Telstra privatisation.

 

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