Here’s Yahoo Finance’s Thursday morning wrap.
Lockdown: Victoria has woken up to the first of 42 days in lockdown, while NSW Premier Gladys Berejiklian has warned the risk of contagion is high.
ASX: The ASX is expected to rise at the open after US investors’ hopes grew on indications of an economic recovery. The Australian SPI 200 futures contract was higher by 50.0 points, or 0.85 per cent, to 5941.0 points at 0700 AEST on Wednesday.
Wall Street: Wall Street gained despite concerns about potential further lockdowns across the country. The Nasdaq finished at a record high as tech stocks lifted higher.
"The market continues to ignore the potential consequences of these spikes in new coronavirus cases," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
Public service: The Queensland public service will be capped at $3 billion over four years under plans from Treasurer Cameron Dick. He said the public service will now look at decentralising operations and that the service will not need to sack workers.
Property: And former royal aide Anne Glenconner can offer some important financial lessons to Australian women, namely the importance of financial independence and power of property.
First State cuts ties: Major super fund First State will divest of its coal assets to protect members from the financial callout of climate change.
"We have seen over the past 10 years significant volatility in the value of thermal coal miners, and increasingly insurance companies are signally their intent to exit this sector in response to medium-term climate-related risk," First State Super CEO Deanne Stewart said.
"Divestment from thermal coal mining is an important first step."
50% off: And the UK has a new way of encouraging spending: serious discounts. The campaign, ‘Eat out to help out’ is worth $897 million and will see diners entitled to 50 per cent discounts of up to $18 for eating out at certain restaurants.
"This moment is unique. We need to be creative," finance minister Rishi Sunak said.