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ASX to rise; Australia faces two-year Covid-19 recovery

Anastasia Santoreneos
·2-min read
ASX to rise as Aussie economy faces two-year economic recovery. Source: Getty
ASX to rise as Aussie economy faces two-year economic recovery. Source: Getty

Good morning.

Here’s Yahoo Finance’s Thursday morning wrap.

The ASX is expected to rise, with the SPI200 Futures index up 42 points to 6,093, despite Australia posting its worth economic growth in 61 years.

In the US, Wall Street closed higher for the ninth time in the last 10 sessions, after data showed US firms added over 400,000 jobs in August.

The Dow Jones Industrial Average rose 454.84 points to close at 29,100.5, the S&P 500 gained 54.19 points to 3,580.84 and the Nasdaq Composite added 116.78 points to 12,056.44.

‘Protracted’ recovery: The Australian economy faces a “protracted” path back from the Covid-19 recession, but it won’t return to pre-pandemic levels until early 2022, BIS Oxford Economics chief economist Sarah Hunter told AAP.

Revamp your finances: Almost one-in-five Aussies have accessed their super early, and the majority of those were millennials.

Finance commentator Peter Switzer said while cash flow crises are common right now, business owners running an asset need a money strategy. Here’s what that is, and how to create one yourself.

Virgin Atlantic saved: The 1.2 billion-pound (AU$2.18 billion) sale of Richard Branson’s Virgin Atlantic to private equity firm Davidson Kempner Capital Management has been approved by a UK court. Here’s the nuts and bolts of the deal.

Is TikTok worth the price? The social media app has been the talk of the town, after the Trump administration gave it 90 days to sell its US business or bow out of the market.

With a few suitors in mind, namely the Microsoft and Walmart duo, here’s a look at whether TikTok is actually worth the price.

A royal deal: Prince Harry and Meghan Markle have reportedly signed a multi-year deal with Netflix, which will see them make exclusive documentaries, docu-series, feature films, scripted shows and children’s programs.

Here’s what we know.

Have a great day.

Yahoo Finance's All Markets Summit is back! Don't miss out. Book your ticket for 17 Septemeber. Source: Supplied
Yahoo Finance's All Markets Summit is back! Don't miss out. Book your ticket for 17 Septemeber. Source: Supplied

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