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ASX to dip as Sydney battles Covid outbreak

Lucy Dean
·2-min read
Victoria Police barrier tape, Melbourne, Australia
Scams are on the rise. Image: Getty

Good morning.

Here’s Yahoo Finance’s Monday morning wrap.

ASX: The ASX is tipped to open lower on Monday as coronavirus concerns keep investors relatively downbeat. Trade is expected to remain mixed in the lead up to Christmas after closing 1.2 per cent lower on Friday at 6,675.5 points.

Wall Street: US stocks also ended lower on Friday as ongoing uncertainty around the country’s major stimulus package continues to keep investor sentiment low.

The Dow Jones Industrial Average fell 124.32 points, or 0.41 per cent, to 30,179.05, the S&P 500 lost 13.07 points, or 0.35 per cent, to 3,709.41 and the Nasdaq Composite dropped 9.11 points, or 0.07 per cent, to 12,755.64.

Covid-19: Sydney’s virus outbreak has jumped to 70 cases, although Premier Gladys Berejiklian is hopeful that it can still be contained in the city’s Northern Beaches, which has been sent into a three day lockdown. Nevertheless, Greater Sydney-siders have been barred from travel to other states or face 14 days quarantine, scuppering Christmas plans across the country.

US stimulus: Americans could be in for a last-minute Christmas gift after US senators struck a deal that brings the AU$1.2 trillion stimulus package closer to reality than ever.

Global economy: The Covid-19 pandemic has reshaped the global economy, after sending much of it into a standstill. Here are five charts showing just how much has changed.

Business lessons: It’s been a rough year for Australian businesses, and it looks like more tough times are around the corner. Here’s what businesses have to say about getting through one of the most challenging years on record.

Public holiday: It’s one of the biggest sales of the year, but will those working Boxing Day receive the public holiday benefit? As Boxing Day falls on a Saturday this year, you may or may not receive public holiday rates depending on where you live.

Elaborate scam: Australians are losing thousands to an elaborate phone scam that’s tricking victims into believing they’ve been contacted by the police or the tax office. One woman handed over $10,000 while another lost $22,000.

Power bills: Australian households could save up to $190 on their yearly power bills by 2023, according to new forecasts from the Australian Energy Market Commission. But there’s one part of Australia that will miss out on the discount.

With AAP.

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