unemployment benefit

S.6 E.36 California State Senate recently approved a legislation to pay $300 per week to unemployed undocumented immigrants, for up to 20 weeks. Will Governor Newsom support this legislation? In this episode, I talk about this issue.

ABOUT: Tawsif Anam is a nationally published writer, award-winning public policy professional, and speaker. He has experience serving in the private, public, and nonprofit sectors in United States and overseas. Anam earned a Bachelor of Arts degree in Political Science and a Master of Public Affairs degree from the University of Wisconsin – Madison. Tawsif Anam’s opinions have been published by national, state, and local publications in the United States, such as USA Today, Washington Examiner, The Washington Times, The Western Journal, The Boston Globe, Pittsburgh Post-Gazette, Milwaukee Journal Sentinel, Wisconsin State Journal, The Capital Times, and The Dodgeville Chronicle. His writings have also appeared in major publications in Bangladesh including, but not limited to, The Daily Star and The Financial Express.

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The Aussie share market is eyeing a 1% fall at the open, following the 2.6% gain yesterday on the ASX which took the market to its highest level since the 6th of March. The Aussie futures are pointing to a dreary open despite European equities hitting four-month highs and U.S. equities mostly pushing higher.

Across the ocean, the European Union agreed to the 750 billion Euro recovery package.

What to watch today:

• OZ Minerals (ASX:OZL) is due to report production numbers for the second quarter.
• Washington lawmakers are coming under pressure to extend the $600 per week federal unemployment benefit ending at the end of September.

Local trading ideas:

• Bell Potter reiterated Suncorp Group (ASX:SUN) as a buy with a $10.50 price target. Yesterday Suncorp Group closed 2.1% higher at $9.24. In terms of COVID-19 impacts, Suncorp expects these to be broadly neutral on FY20.
• After BHP (ASX:BHP) handed down its quarterly report, UBS reiterated BHP as a buy with a $40 target. Yesterday BHP closed 1.1% up at $38.80. Overall with lower guidance for FY21 results, UBS forecast a 6% reduction in underlying earnings.
• Footwear business Accent Group (ASX:AX1) is showing a bullish signal according to Trading Central’s charting. Accent Group is backed by Bell Potter as a buy with a $1.80 target given its online sales grew 150% from April to June.