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ASX set to slide amid 100,000 jobs warning

Lucy Dean
·2-min read
Crosswalk, people crossing in downtown
Image: Getty.

Good morning.

Here’s Yahoo Finance’s morning wrap for Friday.

ASX: The ASX is expected to open lower on Friday morning after a weak day of international trade.

The S&P/ASX200 benchmark index closed down 49.3 points, or 0.73 per cent, to 6745.9 on Thursday.

The All Ordinaries closed lower by 44.4 points, or 0.63 per cent, at 7003.6.

Wall Street: US markets finished lower on Thursday as investors digested the news of rising European COVID-19 cases.

The Dow Jones Industrial Average fell 153.07 points, or 0.46 per cent, to 32,862.30, the S&P 500 lost 58.66 points, or 1.48 per cent, to 3,915.46 and the Nasdaq Composite dropped 409.03 points, or 3.02 per cent, to 13,116.17.

Industrial relations: The Government has shelved the majority of its industrial relations reforms, including provisions criminalising wage theft and award simplification.

"This is a shameful and vindictive reaction to not getting widespread support for other changes that would reduce workers' rights," Australian Council of Trade Unions secretary Sally McManus said.

JobSeeker: Unemployed Australians will receive around $44 a day in the JobSeeker payment after the Morrison Government secured the passage of the bill. However, Greens senator Rachel Siewert said the Government deliberately introduced the bill late to reduce the amount of time to argue against it.

$4,300 lying around: Looking for some spare cash? Take a look around your house. According to the latest eBay report, the average Australian seller on eBay last year made $4,300 just from things lying around the house.

Consent app: The Australian police boss has suggested an app to register sexual consent. However, the technological idea has been slammed as short-sighted and flawed.

100,000 jobs warning: The unemployment rate fell to a surprising 5.8 per cent on Thursday, but according to economist Stephen Koukoulas, the looming expiry of the JobKeeper subsidy means 100,000 will join the jobless queue next month.

Have a great day.

With AAP.