US markets rose 1.3 per cent in midday trading despite early start fades.
The gains have come despite the global death toll reaching a new milestone at 150,000 as well as China's economic downturn plunging 6.8 per cent last quarter. Analysts are cautious the market will remain volatile and any economic improvement to likely be gradual. Image: AP
Global stocks rise because the market thinks something might happen, could happen, may happen but probably won’t happen.
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March unemployment rate climbs to 5.2 per cent | Sky News AustraliaThe unemployment rate for March has climbed to 5.2 per cent, up from 5.1 per cent in February. \n\nThe 0.1 per cent increase came as a surprise to economists who predicted it would rise to at least to 5.5 per cent.\n\nAround 6,000 jobs were added back into the economy.\n\nThe data is based on surveys taken during the first two weeks of March.\n\nEconomists said April figures would be a better representation of the current Labour market. LOL, i think the muppets that prepare these numbers need to join the unemployed.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'Real concern' the economy will suffer beyond pandemic | Sky News AustraliaCornerstone Group Senior Director James Cullen says there is a “real concern” for the economy beyond “getting through COVID-19 over the next six months”.\n\nThe jobs figures report due to be released on Thursday is expected to show a rise in the unemployment rate from 5.1 per cent in February to 5.5 per cent during March, with the possibility of a greater increase.\n\nMr Cullen told Sky News “we saw Treasury figures out yesterday which suggest that with the JobKeeper package in place we could see unemployment rising to 10 per cent' \n\n'And of course the IMF is suggesting that unemployment could continue to rise in Australia over the next few years,' he said. \n\nMr Cullen said one of the most concerning areas was the group of casual workers who were not included in the government's JobKeeper package. \n\n“I suppose the real challenge now will be how we manage that transition and ease those restrictions back and hopefully in time get back to some normalcy and the see the economy hopefully come roaring back,' he said. \n\nImage: Getty
Source: SkyNewsAust - 🏆 7. / 78 Read more »