Yahoo Finance Yahoo Finance morning wrap for Monday
Good morning. This is what’s going on today in finance and other news.
ASX: The Australian share market is tipped to lift early on renewed optimism over US-China trade relations, but analysts fear the imminent release of Chinese economic data could reflect a significant slowdown for Australia’s major trade partner.
The SPI200 futures contract was up 43 points, or 0.74 per cent, at 5864.0 at 0700 AEDT on Monday, indicating the benchmark ASX/200 will follow Wall Street higher at the open, with commodity prices also buoyant.
Aussie dollar: The Aussie dollar is lower, buying 71.72 US cents from 71.92 US cents on Friday.
Global economy: The positive momentum the global economy enjoyed over the past couple years looks set to come to an end in 2019, if this chart by Westpac is any guide.
Investors: Gen Z investors have been flooding the investment market since they’ve been effectively priced out of the housing market (despite the recent slump). It’s not all that surprising given that millennials are better savers than their parents, after all.
Not only that, but Aussie investors – many of whom are in the younger demographic – wanting to invest in tech stocks are fleeing the domestic equities market in favour of fast-growing sectors such as technology and Asian consumer.
But in case you missed it over the weekend, Tesla is planning to cut its workforce by 7 per cent in a bid to make the electronic cars more affordable for middle-income drivers.
Leadership: There’s a recipe for success after all: According to Deloitte, executives have a “clearer grasp of the skills challenge ahead” but “organisational roadblocks appear to be limiting the development” of effective industry strategies that would allow their companies to thrive in the new age of technology. Here’s the four different kinds of leaders we need to run the world.
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