Yahoo Finance Yahoo Finance's Thursday morning wrap
Good morning.
Here’s everything you need to know in finance today.
The ASX is expected to open slightly lower on Thursday, following a dip on Wall Street overnight.
The Dow Jones Industrial Average was down 0.48 per cent, while the S&P 500 was down 0.49 per cent and the Nasdaq Composite was down 0.60 per cent.
Wall Street struggled amid mounting US-China tensions after China condemned a US Senate measure designed to protect human rights in troubled Hong Kong.
"China has been clear that they don't want to see any foreign interference in Hong Kong. That's the real negative to start today's market," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.
Will the market bounce back? These are the five things to watch on Thursday.
Closer to home, Prime Minister Scott Morrison has pledged to cut red tape to support business growth.
He told the Business Council of Australia that Australia will benefit from boosting productivity.
And according to Matthew McConaughey, the country will also benefit from being more eco-friendly. The Hollywood actor just launched an eco-friendly, off-the-grid cabin that Aussies will be able to rent.
Household wealth is booming, says economist Stephen Koukoulas. In fact, since the start of July, it’s grown $0.5 billion. Here’s what that means.
While Westpac is reeling from AUSTRAC’s announcement on Wednesday, NAB has also had a bad day. Hundreds of thousands of NAB customers will be refunded for poor consumer credit insurance.
And Elon Musk will have his day in court, after a US federal judge cleared the way for a defamation trial against the eccentric entrepreneur. The trial centres around Musk’s claim last year that one of the Thai cave rescue diver was a “pedo guy”.
Have a great day.
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