ASX to rise ahead of historic Budget
The SPI200 Futures contract is expected to rise 26 points to 5,902 at the open. The local bourse had its best session since 16 June, finishing off Monday’s session up 2.59%.
Dow Jones Industrial Average rose 369.01 points, or 1.33%, to 28,051.82, S&P 500 gained 47.85 points or one.43%, Nasdaq Composite added 202.35 points (1:83%) to 11,277.37. President Trump tested positive to Covid-19 and his condition may be more serious than officials say.
The Federal Budget will be handed out this evening. It's tipped to be one of the most important Budgets in our lifetime. The Government's plan is to pull Australia out of its first recession in nearly 30 years. Millions of Australians will have income tax cuts fast-tracked in the budget.
ASX to rise ahead of historic Budget. Economists split on whether RBA will cut the cash rate from 0.25% on Tuesday.
