Australia Markets closed

Yahoo Finance morning wrap for Monday

Sydney's nightlife is set for a revival. (Source: Getty)

Good morning.

Here’s everything you need to know in Australia and beyond to kick off your week:

ASX: The Australian share market is set for a subdued open following weaker than expected US jobs growth and mounting expectations the Federal Reserve will ease interest rates.

The SPI200 futures contract was down 7.0 points, or 0.11 per cent, at 6,631.0 at 0700 AEST, suggesting a flat start for the benchmark S&P/ASX200 on Monday.

Wall St: The S&P 500 and Dow Jones indices closed slightly higher on Friday following a mixed US jobs report, with investors betting on an interest rate cut this month.

AUD: The Aussie dollar is buying 68.42 US cents from 68.27 US cents on Friday.

Win for Sydney CBD’s economy: The NSW premier is planning on scrapping Sydney's lockout laws for most of the CBD.

Gladys Berejiklian on Sunday conceded it was time to boost Sydney's night-time economy after a cross-party parliamentary committee review of the laws earlier in the year.

The premier will move to lift the 1.30am lockouts in the CBD entertainment district but the law will remain in place for Kings Cross.

"While we will await the committee's report, I agree it's time to enhance Sydney's nightlife," Ms Berejiklian said in a statement to AAP on Sunday. "Sydney is Australia's only global city and we need our nightlife to reflect that."

But the move has been slammed by critics who argue public safety has improved since they were introduced.

Newstart drug trials: Welfare recipients are in the Morrison government's sights when parliament sits this week, its first gathering after the long winter break.

The government wants to expand cashless welfare card trials at other sites across the country, and has the backing of key Senate crossbencher Jacqui Lambie.

The government will also have another go at passing legislation to trial drug-testing for welfare recipients. The divisive idea has already been rejected twice by the previous parliament.

Trade war hits China: China's trade with the United States shrank by double digits in August as the two sides prepare for trade talks with no sign of progress toward ending a worsening tariff war that threatens global economic growth.

Chinese exporters also face pressure from weakening global demand at a time when Beijing is telling them to find other markets to replace the US.


Supermarket war continues to roll on: Coles Online has announced a new plan to draw customers to its online business, offering free home delivery.

The offer, pitched as a thank you to customers for a 30 per cent increase in sales over the 2019 financial year, applies to those who spend more than $100 in one transaction, and who place an order before 30 September 2019.

This little-known $344 driving fun has stunned Aussies. Victoria Police has stunned thousands of Australians by revealing that drivers can’t use their horn to draw the attention of others outside the vehicle.

Using a car horn for any other purpose than to warn others can incur a $161 fine, Victoria Police said on a Facebook poll on Friday, leaving thousands shocked.

And here are the 53 property hotspots experts reckon will skyrocket. They’re all clustered in NSW, Queensland, WA, and Victoria.

Have a great day.

Yahoo Finance’s All Markets Summit is on the 26th of September 2019 at the Shangri-La, Sydney. Check out the full line-up of speakers and agenda for this groundbreaking event here and get tickets here.