CANBERA (dpa-AFX) - Asian stock markets are mixed on Friday, with some of the markets paring early gains despite the overnight rebound on Wall Street. Worries about a liquidity squeeze in China
The Australian share market is set to swell at the open, following positive tailwinds from the US. All 3 major US benchmarks rebounded after their worst day of trade in three months. Oil, gold and iron ore however all dropped overnight.
Local economic news
Today the Reserve Bank of Australia will release data on private sector credit for the month of December, and the Australian Bureau of Statistics will release producer prices for the December quarter.
Markets
To the figures from around the globe: Wall Street closed higher yesterday: The Dow Jones Industrial Average gained almost 1 per cent to 30,603, the S&P 500 added almost 1 per cent also to 3787 and the NASDAQ closed 0.5 per cent higher at 13337.
This week, a full-page advertisement appeared in The New York Times. It was in the form of a letter addressed to the newly inaugurated President of the United States, Joe Biden. "Dr President Biden," it read. "You know this well: Mums are the bedrock of society. And we're tired of working for free." Watch: Parenting in Australia isn't fair. But . Continued
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The value of Queensland’s resources industry to the state economy has been proven again, with the news that Queensland has recorded the highest number of coal jobs ever reported by the Australian Bureau of Statistics (ABS) in the September to November 2020 quarter.
Queensland Resources Council Chief Executive, Ian Macfarlane, said coal industry jobs rose by almost 40% during the quarter – increasing from 28 072 to 39 075 – which demonstrated how crucial the resources sector is to the state economy and to jobs.
“December trade data also shows the value of Australian coal exports rose by 26% over the previous month, showing coal continues to be an important part of the global energy and industrial mix and will be for years to come,” he said.
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Subscriber only A small number of labour hire jobs have been slashed at BMA s Caval Ridge mine following the commissioning of a new truck fleet. It comes after the Queensland Resources Council touted new figures showing the state recorded the highest number of coal jobs ever reported in the September to November 2020 quarter. The
Daily Mercury understands fewer than 10 labour hire operators have been let go from the Moranbah mine. A BHP spokesman said the commissioning of a new truck fleet at Caval Ridge had resulted in some role redeployments and a small number of labour hire roles no longer required. Â