Yahoo Finance ASX to fall as Wall Street dips
Good morning.
Here’s Yahoo Finance’s Wednesday morning wrap.
ASX: The Australian share market is expected to dip at the open as Wall Street continues its bad run.
Overnight, the Dow Jones and S&P 500 fell by 2.25 per cent and 2.78 per cent respectively, while the Nasdaq dropped by 4.11 per cent.
Loophole: Some worker on JobKeeper 2.0 will also be able to ‘double-dip’ and claim more than $500 on JobSeeker. Here’s more on that.
New job: This former global COO at Macquarie Capital decided in 2018 to ditch her job to pursue a new business venture – in childcare. Here’s why, and what she did.
Unemployment has further to go in what NAB chief economist Alan Oster is calling a protracted recovery. The government will probably have to provide further support, he says.
He’s far from the only one calling for more government support. Independent thinktank, the Grattan Institute, is also pushing for “substantially more fiscal stimulus”.
“Faced with ... a long and deep recession with sluggish recovery – policy makers should do everything in their power to stimulate the economy,” writes Grattan Institute household finances program manager Brendan Coates and senior associate Matt Cowgill.
PM’s demand: Prime Minister Scott Morrison is calling social media platforms to take down a horrible video of a US man taking his own life to protect children. It started circulating on Facebook but is now doing the rounds on TikTok.
"No child should be exposed to horrifying content like this," the Prime Minister said on Wednesday.
"Platforms like TikTok need to put in more resources to detect and tear down this sort of harmful content. That is their responsibility."
Have a great day.
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