ASX to lift amid historic US results

Lucy Dean
·2-min read
SYDNEY, AUSTRALIA - MARCH 13: A man looks at the electronic display of stocks at the Australian Stock Exchange on March 13, 2020 in Sydney, Australia. The ASX200 plunged more than 7 percent in the first 15 minutes of trade on Friday, amid fears over the spread of COVID-19. The Australian sharemarket fall follows the worst day of trading on Thursday, which saw the worst losses since the Global Financial Crisis. (Photo by Jenny Evans/Getty Images)
(Photo by Jenny Evans/Getty Images)

Good morning.

Here’s Yahoo Finance’s Friday morning wrap.

ASX: The ASX is expected to lift at the open on Friday after limping through Thursday trade. Global markets shifted higher overnight amid positive economic news from the US.

The ASX fell to its lowest level since the beginning of October on Thursday, finishing 1.61 per cent lower at 5,960.3 points.

Wall Street: US stocks finished higher on Thursday overnight as upbeat economic data buoyed investor sentiment.

The Dow Jones Industrial Average rose 139.16 points, or 0.52 per cent, to 26,658.11, the S&P 500 gained 39.08 points, or 1.19 per cent, to 3,310.11 and the Nasdaq Composite added 180.72 points, or 1.64 per cent, to 11,185.59.

US economy: The US economy saw its fastest three months of economic growth ever in the third quarter, new data released on Thursday revealed.

The country’s gross domestic product grew at a 33.1 per cent annual rate.

JobKeeper: Australian businesses hoping to claim JobKeeper for the first time have been issued an urgent reminder: they have until Saturday to do so. Here’s what you need to know.

Cashless cards: The Government plans to make cashless welfare cards permanent in certain communities, despite the responsible minister not having yet read the report evaluating the program. This is what’s happening.

Debt recovery: Centrelink is chasing around 15,000 Australians to refund them money. These Australians have had their debts cancelled or are actually owed money by Centrelink after the robodebt scheme was cancelled.

SEEK: Job search giant SEEK is in hot water over claims it has posted “fraudulent” job listings, and it is in a “dangerous” amount of debt. Activist investment firm Blue Orca made the extraordinary allegations.

Myer: Myer’s chair Gary Hounsell has left the role, blaming two of the biggest Myer shareholders: Wilson Asset Management, chaired by Geoff Wilson, and Premier Investments, which is chaired by Solomon Lew.

Australia Post: Embattled Australia Post chief executive Christine Holgate has said she has not been told that she’s been stood down, or given any insight into the Cartier watches investigation.

“It is now exactly seven days since Ms Holgate was the subject of a humiliating answer during Question Time," her lawyer Bryan Belling said.

"In that time Ms Holgate has not had any proper notification that she has been stood down from her role, nor has she been informed as to why she should be stood down."

$100: And there’s a new $100 bill in circulation. Here’s what it looks like.

Have a great day.

With AAP

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