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ASX to rise as looming JobSeeker cut slammed as 'national crisis'

Jessica Yun
·2-min read
MELBOURNE, AUSTRALIA - FEBRUARY 12: Prime Minister Scott Morrison speaks at a news conference at the CSL facility  on February 12, 2021 in Melbourne, Australia. Pharmaceutical company CSL is manufacturing Australia's Oxford-AstraZeneca COVID-19 vaccines. (Photo by Diego Fedele/Getty Images)
Prime Minister Scott Morrison. (Photo by Diego Fedele/Getty Images)

Good morning.

Here's your Yahoo Finance Monday morning wrap:

ASX: The Australian share market is set to open in the green, with two of Wall Street's three major bourses closing Friday at record highs.

Wall Street: The S&P 500 and Nasdaq both rose about 0.5 per cent on Friday, while the Dow finished just a shade above the flatline. More from Yahoo Finance US reporter Emily McCormick here.

One Australian capital city has held the title of the nation's most underrated and consistent property market. Here's what it is.

A national crisis. That's what social advocacy body Anglicare Australia is calling the reduction of the JobSeeker payment to its original $40 a day levels. More here.

520,000 Aussie businesses and 2.13 million workers have phased off JobKeeper since the end of September, according to fresh figures. The wage subsidy scheme is set to wind down on 28 March.

And 84 per cent of economic and housing experts in a poll of 87 experts reckon the Federal Government isn't considering the lack of social housing on productivity and growth. I'm no maths whiz but that's a lot of experts in agreement.

The Treasurer has spoken with the heads of Google and Facebook amid his effort to make the tech giants pay for Australian journalism they publish.

"We have made great progress over the course of the weekend - I think we're very close to some very significant commercial deals - and in doing so, that will transform the domestic media landscape," he said. More here.

–with AAP

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