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ASX rises, AUD drops, Trump battles Facebook, Twitter, YouTube

·Contributing editor
·3-min read
Here's everything you need to know about finance markets for today. Source: Getty
Here's everything you need to know about finance markets for today. Source: Getty

Good morning.

Here's everything you need to know about finance markets for today.

ASX: The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2 per cent higher this morning.

Wall Street: US stocks ended higher after minutes from the last Federal Reserve meeting showed officials were divided on economic signals. Industrials led S&P 500 sector gains on Wednesday. The Dow Jones Industrial Average rose 104.42 points, or 0.3 per cent, to 34,681.79, the S&P 500 gained 14.81 points, or 0.34 per cent, to 4,358.35 and the Nasdaq Composite added 1.42 points, or 0.01 per cent, to 14,665.06.

AUD: The Australian dollar is trading at 0.7486 to the US dollar as at 7am this morning.

Oil: Energy producers could be in the red today after oil prices dropped again. According to Bloomberg, the WTI crude oil price is down 2 per cent to US$71.85 a barrel and the Brent crude oil price has fallen 1.9 per cent to US$73.12 a barrel. OPEC uncertainty has been weighing on prices.

Gold: Gold miners could push higher today after the gold price rose overnight. According to CNBC, the spot gold price is up 0.5 per cent to US$1,803.10 an ounce. The precious metal pushed higher after bond yields dipped in response to the US Fed’s meeting minutes.

Bitcoin: After a bearish start to the week, the cryptocurrency majors found further support yesterday. Bitcoin was up by 1.68 per cent to $34,832. A mixed start to the day saw Bitcoin fall to a low $33,989.0 before rising to a late morning high $34,929.0.

UK-AU trade deal: UK International Trade Secretary Liz Truss says a final trade deal with Australia will be fully drafted by the end of the year. The deal was agreed in principle earlier this year and will result in many tariffs removed between the UK and Australia.

RBA: Reserve Bank governor Philip Lowe will have another opportunity to explain the central bank's policy intentions during a speech on the labour market. Earlier this week, the RBA left the cash rate at a record low 0.

Trump: Former US president Donald Trump has filed suit against three of the country's biggest tech companies, claiming he and other conservatives have been wrongfully censored. He announced the action against Facebook, Twitter and Google's YouTube, along with the companies' CEOs, at a press conference in New Jersey on Wednesday.

Sydney airport: A consortium led by Macquarie Group Ltd. is exploring a rival offer for Sydney Airport, in a potential challenge to IFM Investors Pty’s A$22.3 billion ($17 billion) bid, people with knowledge of the matter said.

Satellite data: Scientific researchers can for the first time download space images of earth from an Australian national science agency managed satellite. Valuable homegrown data will be available to industry, boosting the earth observation data sector, which is already worth an estimated $2.5 billion.

Property investment: Australia’s property markets are booming, yet it’s more important than ever to make sure you’re making the right investment decisions. While a rising tide lifts all ships, investing in the current market may not be as straightforward as you think. Here's why.

'Monetary technology': Money is chosen on the market place based on 'saleableness', or marketability. Or put another way: money is chosen based on how well it transports value through space and time. Here's how to understand Bitcoin as a 'monetary technology'.

Have a great day.

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