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Govt gives out $25k as recession comes; Is it time to buy shares?

·2-min read
Cast of Friends on the left, a builder hammering at a construction site in the centre, and businessman Sam Wood on the right.
It's all happening this morning in finance. (Images: Getty)

Good morning – here’s what you need to know.

Markets: Wall St was up overnight and Australian shares are predicted to follow on Thursday morning, to continue its spectacular run from Wednesday.

US investors apparently looked past the racial justice protests and the lack of treatment for the coronavirus, and instead focused on the lifting of shutdowns around the world.

SPI200 futures was up 1.23 per cent at 8am AEST, indicating a very positive start of trade on Thursday morning.

The Australian dollar was buying 69.22 US cents 8am AEST, slightly down on Wednesday's closing price of 69.37 US cents.

The government is giving out $25,000 to home owners and buyers. The new HomeBuilder stimulus is aimed to prop up a construction industry hit hard by the coronavirus malaise.

Australia is in recession, which the treasurer described as "a lot of heartache for Australians". Both business groups and unions say the federal government must extend its temporary financial support beyond the initial six months planned when the coronavirus arrived.

Is it time to buy shares? Our expert Peter Switzer has been asked this everyday since the February crash, and here's his answer.

200,000 jobs are at risk in the charity sector. A new report warns that non-profit organisations and their workers are heading towards a cliff.

No one is buying cars any more. April saw the biggest year-on-year drop in vehicle sales in Australian history, while car subscription services like Carbar, Carly and Blinkr are going gangbusters.

Former TV Bachelor Sam Wood grew his business 500% in just one year. Here's how he did it.

US sitcom Friends ended 16 years ago, but its popularity still endures. A resume-writing company polled fans then drew up six CVs that might represent what each of the characters would be doing right now.

Have a great day, everyone.

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