Virus Hit Workers Given Early Access To Super
The Federal Government’s latest aid and stimulus package of $66 billion includes a big superannuation component worth a couple of billion of dollars and more.
Read MoreThe Federal Government’s latest aid and stimulus package of $66 billion includes a big superannuation component worth a couple of billion of dollars and more.
Read MoreDon’t be surprised if trading in the shares of Qantas and Virgin Australia is suspended after the federal government warned against non-essential interstate travel and the states tightened their borders to stop the spread of coronavirus.
Read MoreA big test for the market and investment confidence this week with news expected on whether there will be coronavirus-driven rescue/recaps of Webjet, Flight Centre and oOH!media.
Read MoreCOVID-19 will dominate the week here and offshore for everyone. Bailouts, support packages will again be at the forefront of events, likewise more cases of infections, deaths and a terrible toll on life as we know it.
Read MoreAre the Americans blinking first in the great global oil price war which is making the impact of the COVID-19 pandemic in markets worse?
Read MoreSo will global markets pick up this week after last week’s mass sell-off which verged on panic at times? Over last week US shares fell 15%, Eurozone shares lost a small 2.04%, Japanese shares shed 10.8%, Chinese shares dropped 6.2% and Australian shares fell 13.1%.
Read MoreIn the last 10 trading days, gold has dropped $US250, an unusually steep decline in a short period of time, as the combination of the growing COVID-19 pandemic and the impact from the Saudi-Russia oil price and volume war have knocked investors sentiment.
Read MoreThe Federal government has delayed its 2020-21 budget to October 10 from its mid-May timetable, while the states and territories are expected to follow suit and push their financial statements off to the same period.
Read MoreSo much for the promise showed in trading in Australia, the rest of Asia and Europe on Friday – Wall Street turned all that optimism on its head and fell 4% in a late sell-off that showed American investors are probably the most nervous of the lot.
Read MoreFrom the sublime to the ridiculous. A day after oil futures hit 18-year lows, they have enjoyed the biggest ever one day rise – nearly 24%.
Read MoreIf the overnight futures market is any guide, the ASX should start trading this morning with a roar – more than 190 points if the SPI is any guide. But as we have seen in the past month solid starts to trading have been promised on numerous occasions based on the overnight futures market, only to have something very different happen when trading gets underway.
Read MoreThe RBA has rolled out a series of measures that it hopes will help Australia “build a bridge” and eventually bounce back from the current disaster. Expect the low cash rate of 0.25% to be around for at least three years as the COVID-19 pandemic wreaks havoc on the local and global economy.
Read MoreThere were more signs in the February labour market data from the Australian Bureau of Statistics that confirmed that the Australian jobs market is weakening towards a slide.
Read MoreShares in troubled department store Myer plunged by more the 44% yesterday for no apparent reason.
Read MoreThe crisis in the travel and aviation sector worsened yesterday with the Federal government banning all foreigners from entering Australia from midnight tonight and again told Australians returning from overseas that they will have to undergo 14 days of quarantine.
Read MoreThe Reserve Bank will leave its cash rate at the new record low of 0.25% until the economy rights itself and emerges from the COVID-19 crisis. In a coordinated response banking and financial regulator, APRA is also relaxing the current capital adequacy requirements on banks.
Read MoreWall Street ended sharply lower on Wednesday after another rough day of trading that saw trading halt during the session. The Dow was off well over 2,000 points at one stage but recovered a touch to close down 1,388 points.
Read MoreOn the whole, Wednesday was another miserable day for commodities, especially oil. Oil prices were hammered in global markets, dropping to yet another round of 18-year lows, gold, copper, and silver slid, but iron ore edged higher for yet another day.
Read MoreInvestors have paid no heed to partial figures from the ABS yesterday showing a 0.4% rise in seasonally adjusted retail sales in February. The rise came from the supermarket sector as other parts of retail, particularly associated with tourism or hospitality, are likely to plummet.
Read MoreCredit rater, S&P global says we are looking at a global economic recession because of the coronavirus pandemic, while the ANZ has joined Westpac’s economics team in forecasting a recession in Australia this year.
Read MoreYesterday saw a host of downgrades and other poor news from ASX companies of all sizes – all understandable in the current terrible investment climate as the combination of the coronavirus pandemic and the idiotic price war in oil between Russia and Saudi Arabia wreck market confidence and share price.
Read MoreThe Aussie dollar fell to new 17 year lows under 60 US cents after the greenback rose and Wall Street ended the day with gains of 5%-6% after a major move by the US Federal Reserve calmed nervy investors large and small.
Read MoreGold rose oil, silver, and copper all fell, but iron ore edged higher in another day of volatile trading for major commodities.
Read MoreThe New Zealand government of Jacinda Arden has revealed a massive coronavirus assistance package that aims to support businesses and their employees through the looming downturn.
Read MoreCoca-Cola Amatil has become the latest company to drop its earnings guidance because of the impact of the coronavirus.
Read MoreoOh!media shares continued to slide yesterday in the wake of its Monday announcement to drop its earnings guidance for the time being. Estia Health is another company to withdraw its current earnings guidance because of the impact – real and probable of COVID-19.
Read MoreMore problems for our three listed carriers yesterday. Qantas and Jetstar have announced another round of cuts, REX Airways has gone into a trading halt while Standard & Poor’s has downgraded the rating of Virgin Australia’s debt to B-.
Read MoreShares in Coles, Woolies, and Metcash surged yesterday as investors took heed of the impact of the panic buying will have on sales and earnings for the March quarter at least.
Read MoreThe ASX is again facing big losses at the start of trading Tuesday after huge falls across the globe on Monday as the economic and social impact of the coronavirus worsened.
Read MoreOil’s spectacular collapse deepened on Monday despite widening global efforts to fight the economic impact of coronavirus. Prices of the two key marker crudes, Brent and West Texas Intermedia slumped again with the US crude tumbling under $US30 a barrel.
Read MoreThe Reserve Bank of New Zealand has joined the growing list of central banks making an emergency cut in its key interest rate on Monday morning, slashing the Official Cash Rate from 1% to a new record low of 0.25%.
Read MoreAir New Zealand had its shares suspended yesterday after it revealed further reductions in capacity across its network as the coronavirus crisis cuts demand for travel.
Read MoreOn Friday’s dramatic slide and surge in the ASX, shares in hearing implant maker, Cochlear stood out with a leap of 21%. On Monday they dived up to 20% after the company issued its second earnings downgrade caused by the coronavirus, COVID-19 and warned that it is cutting all non-essential spending except for CAPEX. But it made clear staff numbers would not be cut.
Read MoreAmid all the carnage from China’s production, investment and retail sales figures (not to mention car sales and airline passenger figures), one figure stood out – steel production, which indicates the continuing resilience of the sector.
Read MoreASIC, the stock market regulator has cracked down on high-speed investors who have been blamed for much of the increased volatility in the ASX in the current period of elevated volatility.
Read MoreThe US Federal Reserve has slashed its key interest rate and will start a massive $US700 billion in a new round of quantitative easing to try and ease growing pressures in US financial markets caused by the growing damage the spread of the COVID-19 virus is doing in the US.
Read MoreThe full extent of the damage caused to China’s economy by the coronavirus, COVID-19, is now starting to emerge and will be further quantified later today when data on investment, retail sales, and industrial production emerge for January and February.
Read MoreOil prices start this week with their biggest week of losses since the 2008 global financial crisis under their belt.
Read MoreInterest rate cuts won’t cure the coronavirus but US investors are still hoping the Federal Reserve will do something this week to help soothe the broiled stock market.
Read MoreThere’s a major change happening on the boards of Warren Buffett’s Berkshire Hathaway and Microsoft. Both companies revealed on Friday that Microsoft co-founder, Bill Gates will be stepping down shortly.
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