Yahoo Finance ASX to rise; Woolworths hires 20,000 workers - Yahoo Finance's morning wrap
Good morning.
Here’s Yahoo Finance’s morning wrap.
Markets: The ASX is set for its fourth day of gains, after another surge in US equities overnight.
The ASX200 benchmark index has had three straight days of gains, after finishing Thursday up 2.3 per cent while the All Ordinaries index closed up 2.58 per cent.
The Australian dollar was buying 60.66 US cents at 0700 AEDT, up from 59.14 US cents as the market closed on Thursday.
Overseas markets: Wall St gained more ground as weekly jobless claims came in below investors’ expectations, and the US Senate passed a $3.3 trillion stimulus package.
Woolworths goes on hiring spree: The supermarket has revealed it’s on the hunt for around 20,000 new employees across its stores, e-commerce, supply chain and drinks businesses.
It also plans to offer up to 5000 short-term roles to Qantas employees taking leave without pay, but will first redeploy its own ALH workers impacted by this week’s mandatory hotel closures.
Renter, landlord relief: The national cabinet is expected to decide whether renters and landlords will be granted relief during the coronavirus outbreak, with a decision set to come this afternoon.
The government is reportedly considering income tax cuts for landlords who reduce tenants' rent, while Labor has called for a freeze on all evictions.
Life in a recession: There’s an entire generation of Australians that have never encountered a recession before, but here’s what it looks like.
Spike in tax claims to come: Rent, electricity, laptops and internet are set to be popular tax deductions in the new financial year as the Coronavirus forces many Australians to work from home for an indefinite period.
Here’s what the tax office is bracing for.
Rebound in stocks is coming: Billionaire investor Paul Tudor Jones, who predicted the 1987 market crash, says we are going to “quash” the virus, and predicts stocks will rebound soon.
Have a great day.
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