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ASX to gain as PM unveils major package

Lucy Dean
·2-min read
Australia's Prime Minister Scott Morrison makes a joint statement with Indonesia's President Joko Widodo at Parliament House Monday, Feb. 10, 2020. Widodo is on a two-day visit to Canberra, his fourth visit to Australia. (AP Photo/Rick Rycroft, Pool)
Prime Minister Scott Morrison has announced a new scheme. (AP Photo/Rick Rycroft, Pool)

Good morning.

Here’s Yahoo Finance’s Thursday morning wrap.

ASX: The ASX is expected to open higher on Thursday after US markets were buoyed by positive data.

The Australian SPI 200 futures contract was up by 22.0 points, or 0.36 per cent, to 6053.0 points at 0800 AEST on Thursday.

Wall Street: US stocks jumped significantly higher on Wednesday US time after optimistic reports on a potential vaccine were shared. The S&P 500 closed at its highest since the beginning of June, after Moderna soared 6.9 per cent off the back of a small-scale study on its vaccine.

The Dow Jones Industrial Average rose 0.85 per cent to end at 26,870.03 points, while the S&P 500 gained 0.91 per cent to 3,226.55.The Nasdaq Composite climbed 0.59 per cent to 10,550.49.

JobTrainer: Around 91,300 businesses, 350,000 studiers and 180,000 apprentices will receive something out of the government’s latest economy-boosting measure. Here’s what you need to know.

US investors: US companies are still the number one investors in Australia, investing $1,82 trillion. That’s despite beliefs held by 70 per cent of Australians that China is the largest investor in Australia. It has never held that position.

Apple: Europe’s second-highest court has rubbished an order from the EU for Apple to pay $21.25 billion in Irish back taxes.

"This case was not about how much tax we pay, but where we are required to pay it. We're proud to be the largest taxpayer in the world as we know the important role tax payments play in society," Apple said, welcoming the ruling.

Fossil fuels: Australia has spent four times as much on support for sectors powered by fossil fuels than it has on turbocharging the clean energy industry, new analysis by 14 organisations has revealed.

"Australian governments continue to prop up the coal and natural gas sectors with fee waivers, fast-tracked projects and direct investments, further entrenching Australia's position as the third largest exporter of fossil fuels in the world," The Australia Institute energy program director Richie Merzian said.

Nurses: Nurses in France just scored a major pay rise. But in other countries, health care professionals haven’t even received a salary since February. Here’s what’s going on.

Copy-cat: And many Australians are now intimately familiar with Zoom, which has gone gangbusters since the pandemic hit. It’s been so successful, an Indian company has tried to repeat its success.

Have a great day.

With AAP.