Here’s Yahoo Finance’s Wednesday morning wrap:
ASX: The Australian share market may look to open flat, as Wall Street finishes up overnight in the green after a bit of a bumpy ride but a huge explosion shakes Beirut.
Wall Street saw a lift thanks to Apple and energy stocks, but was pulled back by AIG and Microsoft as investors waited for more stimulus from the US government. Here’s more on that.
Gold prices have shot past US $2,000. Take a look at gold prices with Yahoo Finance’s tool here.
Big news: There’s been a huge explosion in Beirut. Parts of the capital were shaken by the blast and thick smoke billowed from the city centre. 25 have died and more than 2,500 are injured, including one Australian.
JobSeeker penalties and mutual obligations are back – for everyone sans Victorians. Here’s reporter Lucy Dean on everything you need to know.
Victoria’s second lockdown changes things for the economic outlook – so stimulus should change accordingly, writes independent economist Stephen Koukoulas.
“If Treasury and the RBA were both more realistic about just how severe the COVID Depression is, they would be advocating more policy stimulus to at least partially offset the depths of economic despair that is percolating through the Australian economy.”
The RBA is now looking at one-in-10 job losses. The central bank is now looking at 10 per cent unemployment; but just a fortnight ago, Treasury had forecast 9.25 per cent.
‘Triple guarantee’: The Federal Government is pledging to save childcare places, centres and jobs. Here’s what the Prime Minister and Education Minister said this morning.
Virgin Atlantic has officially filed for bankruptcy in the US. The airline is wanting protection from creditors under Chapter 15 of the US Bankruptcy Code.
Some upside to the Covid-19 crisis: global account imbalances could further narrow in 2020, bar some commodity exporters and tourism-dependent countries, according to the IMF. More on that here.
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