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What experts do with their money: Monday morning wrap

The burnt landscape lining Benalong Road leading to Benalong Point and Manyana which came under intense fire threat yesterday south of Nowra, Sunday, January 5, 2020. (AAP Image/Dean Lewins)

Good morning.

Here’s everything you need to know in Australia and beyond to kick off your week:

ASX: The Australian share market could take a hit this morning following renewed tensions in the Middle East and a contraction in US manufacturing which caused Wall Street's major indexes to fall on Friday.

The SPI200 futures contract was down four points, or 0.06 per cent, at 6,655.0 at 0700 AEDT, suggesting a slight decline for the benchmark ASX/200 at Monday's open.

The ASX closed higher on Friday, up 42.9 points or 0.64 per cent, but there are concerns the US' killing of Iranian military chief Qassem Soleimani and US manufacturing sector data could still impact the Aussie market.

AUD: The Australian dollar was buying 69.50 US cents, down 0.23 per cent from Friday.

What do the experts do with their money?

It seems like for them, just like for their clients, 2020 is a new year – and a financial spring clean in order. Yahoo Finance asked 7 financial advisers what’s at the top of their financial to-do list, and this is what they said. Meanwhile, stock-picking experts have named the ASX shares that we should keep an eye out for in 2020.

How did 17-year-old Jack Bloomfield make his millions? Through something called drop-shipping. He visited The New Investors’ studio to tell us how he did it.

There are 136 fires burning across NSW at the moment, 69 that are out of control.

However, firefighters in Victoria and NSW have caught a break from the blazes thanks to cooler conditions and some rain. Canberra childcare centres have shut their doors and NSW farmers are counting the numbers of animals lost to the firesFrench President Emmanual Macron has offered aid to Prime Minister Scott Morrison in dealing with the devastating fires. Californian firefighters also stand by, ready to respond to any call for assistance from Australia.

–with AAP

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