Australia markets closed

ASX poised to rally as gov mulls rental breaks

Here's what you need to know this morning. Images: Getty

Good morning.

Here’s everything you need to know in finance today.

ASX to leap: Australian shares are set to rally for a third day in a row after the US government’s US$2 trillion set global markets alight and triggered a brief rally at the close in Australia on Wednesday. 

The SPI200 futures contract was up 104 points, or 2.06 per cent, at 5,149 points at 7:00am AEDT on Thursday.

Dow Jones’ mixed bag: It came after a mixed day for US markets. The Dow Jones flicked from green to red concern about a future recession and hopes for the stimulus package battled it out. 

“Markets are going to stay very volatile until one of three things happens: either the number of new infections in the US peaks, there is some kind of a cure or vaccine developed or until the US economy begins to reopen," said Randy Watts, chief investment strategist at William O'Neil+Co in New York.

Covid-19 cash: Are you eligible for support from the government? Here’s how to make a claim with Centrelink and here’s when you should start to receive the cash

Debt relief: The International Monetary Fund (IMF) and the World Bank are calling on richer countries to give poorer countries a break on debt, as developing nations will be worst-hit by coronavirus. 

"This will help with International Development Association (IDA) countries' immediate liquidity needs to tackle challenges posed by the coronavirus outbreak and allow time for an assessment of the crisis impact and financing needs for each country," the IMF and the World Bank said.

Could hiring cease altogether? Demand for new staff was slowing prior to the Covid-19 outbreak, economists have warned, with the unemployment rate tipped to hit as high as 11 per cent in months. 

Internet speed keeps up: As more and more companies push staff to work from home, pressure on internet speeds has grown significantly. But according to researchers at Monash University, our broadband is holding on - only just. 

"The signs for now in Australia are 'steady', but not entirely reassuring,"  Associate Professor Paul Raschky said.

"We will keep monitoring the situation and plan to provide further reports as the Australian social distancing measures ramp up in the coming days."

Rental relief? The federal government is reportedly mulling income tax cuts for landlords who reduce tenants’ rent. 

Working from home: Working from home will see our energy bills take a hit. Here’s how to keep them down. And, are you struggling to get your day in order? Check out our hour-by-hour breakdown of the best remote workday. 

Have a great day.

With AAP.

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