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ASX to edge up, Wall St pulls back – The Australian Financial Review
Australian shares appear set to open modestly higher, though as US head toward a lower close positive sentiment may prove difficult to maintain.
Most of the spending bounce is the result of unemployment benefits as well as one-time stimulus payments, Pantheon also said.
“If enhanced benefits are not extended by the end of July, they will expire, and household incomes will be exposed to the full collapse in payrolls.
“Our base case remains that this won’t happen, and that Republicans in the Senate are too scared by recent polling to throw many millions of people into penury just three months before the election. As of right now, though,…
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