ASX falls as Australia awaits record GDP numbers

good morning.

Here’s the Friday morning wrap up at Yahoo Finance.

ASX: The ASX is expected to decline ahead of the Village Roadshow, Boral and Costa results. Futures are lower early Friday morning, after the ASX200 ended up 0.16 percent on Thursday.

Wall Street: Wall Street had a mixed day on Thursday local time, as the S & P500 and Dow Jones finished higher while the Nasdaq closed in the red. This came as the US Federal Reserve unveiled a new strategy to adopt an average inflation target.

The Dow Jones Industrial Average rose 160.35 points, or 0.57 percent, to 28492.27, the Standard & Poor’s rose 5.82 points, or 0.17 percent, to 3484.55 points, and the Nasdaq Composite retreated 39.72 points, or 0.34 percent, to 11,625.34 points.

Tax Tips: Are you done with tax yet? Tax expert Mark Chapman studied five ways to replace tax refunds.

The way out: Australia is heading towards a frustrating few years, independent economist Stephen Cukulas wrote, but a shift in policy settings could lead us down a better path. This is what Kukulas thinks.

US Economy: The US economy fell by a staggering 31.7 percent in the April-June quarter – its biggest quarterly decline on record. Millions of workers have lost their jobs as the virus spreads in the United States, where the unemployment rate is 10.2 percent.

TikTok: Walmart joined Microsoft in offering to buy TikTok, just hours after TikTok CEO Kevin Meyer announced he was stepping down. “We are confident that the partnership of Wal-Mart and Microsoft will meet the expectations of American TikTok users while satisfying the concerns of government regulators in the United States,” Wal-Mart said in a statement.

Bankruptcy: A New South Wales businessman and racing horse owner is declared bankrupt, ending a long-running court battle with the Commonwealth. The Commonwealth said the man owed her more than $ 10 million. Here is the full story.

An anxious wait: Australia is days away from announcing the largest economic downturn ever, with Treasury Secretary Josh Friedenberg describing the Coronavirus as an economic “earthquake”. The national accounts this coming Wednesday of the June quarter will affect the decline in investment, as economists now expect a contraction of 6 per cent in the June quarter.

Equal Pay Day: Today is Equal Pay Day. How does the gender pay gap appear in your state or territory?

have a great day.

With AAP.

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