Yahoo Finance ASX aimless; Lawyers demand Centrelink scheme apology
Good morning.
Here’s Yahoo Finance’s Tuesday morning wrap.
The ASX is poised for a flat start to trade, but investors could be swayed by positive sentiment in the US.
The Reserve Bank board will meet today to consider the cash rate, although economists are not expecting the rate to change.
The Aussie dollar has surged this week following a rise in iron ore prices and the release of better-than-expected Chinese manufacturing data.
One Australian dollar was buying 67.98 US cents at 0700 AEST, up from 67.46 US cents at the close of trade on Monday.
In the US, stocks have posted gains as signs of US economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising US-China tensions.
“Seismic” changes: While experts often have different takes on the economy, there’s one thing they can agree on: stamp duty will most likely be axed by 2021.
Robo-debt apology: Lawyers for hundreds of thousands of people who copped unlawful welfare robo-debts have demanded the federal government apologise for the bungled scheme.
Facebook staff plan ‘virtual walkout’: Facebook employees are so upset with Mark Zuckerberg’s decision to take no action on Donald Trump’s posts, that they are participating in a “virtual walkout” in a show of protest against the company.
Nike responds to George Floyd protests: Nike is the first to speak out among big sports apparel brands, posting a 60-second video asking viewers to “be part of the change”.
RBA calls the economy “depressing”: Stephen Koukoulas writes that there will be “pain and wreckage” once the government stimulus measures ends, and policy change is urgent.
Healthcare workers’ move: Paramedics have begun taking industrial action, while nurses and midwives will undertake rolling demonstrations outside NSW Parliament to protest the state government's proposed 12-month public pay freeze.
Have a great day.
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