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ASX to slide amid coronavirus spike fears

Here's what's happening on Thursday. (Photo by Jenny Evans/Getty Images)

Good morning.

Here’s Yahoo Finance’s Thursday morning wrap:

Stocks: The ASX is expected to slide in early trade after Wall Street shivered lower on fresh coronavirus worries. 

The Australian SPI 200 futures contract was lower by 36 points, or 0.60 per cent, to 5,972.0 at 0800 AEST on Thursday, suggesting losses in share values early.

Wall Street: The S&P 500 finished lower amid spiking pandemic data and fears of another round of lockdowns. New cases hit a high in Oklahoma, with cases rising rapidly in six US states. 

The Dow Jones Industrial Average fell 170.37 points, or 0.65 per cent, to 26,119.61, the S&P 500 lost 11.25 points, or 0.36 per cent, to 3,113.49 and the Nasdaq Composite added 14.67 points, or 0.15 per cent, to 9,910.53.

Qantas: Qantas has cancelled all international flights until late October, the airline confirmed this morning. But there’s one country that’s exempt from the cancellation. 

Unemployment rate: The latest jobs figures will be released this morning and the experts aren’t hopeful: economists predict the unemployment rate will leap to 7 per cent - the highest rate in 21 years. 

IT jobs: But there’s one bright spot: demand for workers has increased slightly with IT workers in high demand, according to LinkedIn. Finance and healthcare workers are also wanted. 

Retail: When it comes to the retail sector’s experience of 2020, the word ‘shocker’ doesn’t even come close to covering it. In fact, this will be the worst year on record for our retailers, new analysis from Deloitte Access Economics has revealed. 

Help needed: Tax time is close and it’s going to look very different for millions of Australians this year. These are three big signs you should consider getting a tax agent. 

Travel questions: So you booked a holiday and now coronavirus has ruined your plans. This is what you need to know about travel insurance right now. 

Airport workers: Australians working at foreign state-owned companies will not receive JobKeeper payments after the Senate rejected a Labor push to include them. 

‘Negligent’: And one man is suing his date for $237,000 after she allegedly gave him herpes. Here’s the story.

–with AAP.

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