1. The ASX started the new financial year with a 0.6% gain. The S&P/ASX 200 index rose 0.6 per cent, or 36 points, to 5934.40.

2. Investors, like IML, warn that the buy now, pay later sphere could resemble the dotcom crash or the tech bubble of the early 2000s. Since the market bottomed out on March 23, Afterpay has rocketed 607 per cent, Openpay has risen 600 per cent, Sezzle is up 997 per cent, Splitit has advanced 486 per cent and Zip Co has soared 355 per cent.

3. The CEOs of Amazon, Apple, Google and Facebook have agreed to testify before the House Antitrust Subcommittee as part of an investigation into the big tech firms, reviewing their market power and threat to consumers.

4. NSW Premier Gladys Berijiklian is preparing NSW for another spike in COVID-19 cases. She told Seven's Sunrise this morning, “I hate to state the obvious that there is no doubt in my mind that during the course of the pandemic, we will get a spike. It is about how you deal with it."

5. The Dow dropped 0.30% yesterday to 25,734.97. The S&P 500 rose 0.50% to 3,115.86 and Nasdaq was up 0.95% to 10,154.63.