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Yahoo Finance's morning wrap for Friday

Six of the 15 female chief executives of ASX300 companies. (Image: Yahoo Finance composite)

Good morning.

Markets: Iran shot down a US drone overnight. What has this to do with the markets? Oil prices surged up because of possible escalation of military tensions at the oil-producing nation. Iran warned this week that within days it would breach nuclear stockpile limits agreed under an Obama-era de-nuclearisation deal.

Meanwhile the US Federal Reserve put cash rates on hold but indicated it might cut as soon as next month as the US-China trade war starts hurting everyone. Wall Street liked that message, with the S&P500 hitting a record high after going up 0.95 per cent. The Dow Jones industrial also ascended 0.94 per cent and the NASDAQ surged 0.8 per cent.

Despite this, the Australian stock market is expected to open flat today with the SPI200 futures not indicating any significant movement.

Aussie dollar: The Australian dollar is buying 69.25 US cents at 8:10am AEST, slightly up from 69.05 US cents yesterday.

15 women among 285 men. That's the gender ratio of the chief executives of ASX300 companies. We've listed here the 15 extraordinary Australian women who have managed to get to the top despite many barriers.

Crowdfunding for legal action against former employer? This is what rugby union star Israel Folau has started. The man who was on a $4 million contract has asked for donations to take Rugby Australia to court over his sacking for homophobic social media posts.

Crumbling Mascot Towers owners will fork out $1 million. The owners of the troubled apartment complex in Sydney have voted to foot the repair bill with a special strata levy. But they still won't be able to return to their homes for at least a month.

Sales ahoy. The end of financial year means retailers are clearing stock. eBay is hosting a 48-hour sale with up to 90 per cent off some big brands, while Coles online is flogging its wines for half-price.

Have a great weekend!

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