ASX set to open lower as Frydenberg overhauls JobKeeper

Lucy Dean
·2-min read
CANBERRA, AUSTRALIA - JUNE 17: Treasurer Josh Frydenberg during Question Time in the House of Representatives at Parliament House on June 17, 2020 in Canberra, Australia. Three Victorian Labor MPs have resigned amid corruption and branch stacking allegations following an investigation by The Age newspaper and 60 minutes which aired on Sunday night. (Photo by Sam Mooy/Getty Images)
Josh Frydenberg has overhauled JobKeeper. (Photo by Sam Mooy/Getty Images)

Good morning.

Here’s Yahoo Finance’s Friday morning wrap.

ASX: The ASX is expected to open lower on Friday, with futures pointing to a fall of around 0.3 per cent, or 15 points.

This is despite a positive boost from Wall Street.

The benchmark S&P/ASX200 (^AXJO) finished in the green on Thursday, up 0.68 per cent to 6,042.20 points. The broader All Ordinaries index (^AORD) also had a positive finish, up to 6,180.30 points, a growth of 0.73 per cent.

Wall Street: The tech sector helped pull the S&P500 to record highs overnight, leading it to rally 0.64 per cent. The Nasdaq finished 1.0 per cent higher at 11,108.07 points and the Dow Jones also finished 0.68 per cent higher at 27,368.98 points.

JobKeeper overhauled: JobKeeper eligibility has undergone a radical change, opening the door to another 500,000 Australians.

Bubble warning: Gold and stocks are a bubble, writes The Rum Rebellion’s Greg Canavan. Here’s why.

HomeBuilder extended: Victorians planning to take up the Government’s HomeBuilder scheme will have six months, rather than three months to begin building from the time they sign the contract.

Jeff Bezos: The world’s richest man has sold AU$4.28 billion in Amazon shares after his wealth soared during the Covid-19 crisis.

Lying candidate: And have you ever gotten the feeling someone has used a bit of creative licence on their job application? It’s very common, but here’s how to spot the telltale signs.

RBA to speak: The Reserve Bank of Australia governor Philip Lowe will today release its quarterly statement on monetary policy, including its latest economic forecasts.

Have a great day.

With AAP.