Australia markets closed

ASX likely off to a bad start; world hits terrible coronavirus milestone

MELBOURNE, AUSTRALIA - JUNE 28: A pop-up Covid-19 testing tent during a COVID-19 testing blitz in the suburb of Broadmeadows on June 28, 2020 in Melbourne, Australia. (Photo by Asanka Ratnayake/Getty Images)

Good morning.

Here’s Yahoo Finance’s Monday morning wrap:

ASX: Expect the Australian stock market to open lower off the back of Wall Street last Friday that was concerned about keeping the pandemic under control.

The Australian SPI 200 futures contract was lower by 91.0 points, or 1.56 per cent, to 5,757.0 at 0700 AEST on Monday.

Wall Street finished off last week sharply lower as Covid-19 cases in the US hit an all-time high – Texas and Florida were forced to reverse their business reopening.

We’ve hit a terrible milestone: coronavirus deaths have now clocked 500,000 and counting. About a quarter of those are from the US.

The new financial year, 1 July, marks a number of new changes and laws. Here’s a quick run-down; Yahoo Finance will have our own version out shortly.

Will the coronavirus pandemic mean higher pay for healthcare workers? Independent expert Conrad Liveris thinks so, but Financy founder Bianca Hartge-Hazelman did some digging and found it’s unlikely to happen.

Revving up the Australian economy will likely call for tax reform. Will we see changes to the GST? Politicians would rather leave this in the too-hard basket, but economic experts think it’s ripe for an overhaul.

$1 million is yours if you can solve this death. The reward to find the person who killed a Sydney boy in a house fire has been dramatically raised from $100,000 to $1 million. Read more about it here.

Sign up for your exclusive access to the fortnightly webinars.

Follow Yahoo Finance Australia on FacebookTwitterInstagram and LinkedIn.