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ASX to dip as Vic govt faces High Court lockdown challenge

Anastasia Santoreneos
·2-min read
ASX to dip as Vic govt faces High Court challenge. Source: Getty
ASX to dip as Vic govt faces High Court challenge. Source: Getty

Good morning.

Here’s Yahoo Finance’s Monday morning wrap.

The ASX is expected to dip at the open, with the SPI200 Futures Contract down 5 points or 0.1 per cent to 6,091, indicating a mild slip for the local bourse.

That’s despite US stocks finishing higher on federal fiscal stimulus hopes. Talks are expected to resume, even after President Donald Trump called off negotiations last week.

The Dow Jones Industrial Average rose 161.59 points, or 0.57 per cent, to 28,587.1, the S&P 500 gained 30.29 points, or 0.88 per cent, to 3,477.12 and the Nasdaq Composite added 158.96 points, or 1.39 per cent, to 11,579.94.

New woes for Vic: Victorian bar owner Julian Gerner is taking the state government to the High Court to challenge the validity of its lockdown restrictions.

His team will argue the Victorian Labor government has engaged in an "unnecessary lockdown of the state and the economy, denying our basic freedoms as Australian citizens under our federal Constitution, including our right to freedom of movement".

Coalition ahead: The Coalition leads Labor 44 to 34 per cent on primary votes following the delivery of last week's federal budget, a new poll indicates. That’s an increase from 43 to 34 per cent in mid-September.

Amazon Prime Day: The e-commerce giant is launching a 66-hour exclusive sale which kicks off at 12:00am AEDT Tuesday 13 October.

Here are the best Amazon Prime Day deals.

The blue wave: With the US election closing in, Wall Street is fearing a “blue wave” - that is, a Democrat-controlled presidency, Senate and House. But fund manager Goldman Sachs said that might not be such a bad thing.

Here’s what Goldman Sachs have forecasted, and two strong value stocks they think are a buy.

Have a great day.

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