Australia Markets closed

Yahoo Finance's morning wrap for Thursday

Justin Hemmes (top left), Carla Zampatti (top right) and the Sydney Harbour Bridge (bottom). (Images: AAP)

Good morning.

Markets: The US Federal Reserve overnight cut its cash rate by 0.25 of one percent, which was the first reduction since the Global Financial Crisis last decade. But the chairman killed off hopes of further reductions. Accordingly Wall St finished the day down – the Dow Jones Industrial fell 1.23 per cent, S&P500 tumbled 1.09 per cent and the NASDAQ plunged 1.19 per cent.

The Australian market is expected to follow the US' lead and start the morning negative. The SPI200 futures were down 0.43 per cent at 7am AEST.

Aussie dollar: The Australian dollar is buying 68.45 US cents at 8am AEST, slightly down from 68.93 US cents yesterday.

Kerry Stokes, Justin Hemmes and Carla Zampatti couldn't get a loan these days. That's the startling claim by Westpac chief Brian Hartzer, who criticised the tightening of credit rules following the Royal Commission last year. He's suggesting Australia's most successful entrepreneurs would never have received the loans to build their empires if they had to ask in today's restrictive climate.

How to put $1,500 of credit card interest on hold. An increasing number of Australians are struggling with debt, but you can get yourself some temporary relief to fix the situation. Here's how.

The Sydney Harbour Bridge's design is well-recognised around the world. But it could easily have been something different. Here are pictures of six alternative designs that were rejected, superimposed onto the current day harbour.

Have a great day!

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