Yahoo Finance Yahoo Finance's morning wrap for Wednesday
Good morning.
Here’s everything you need to know in finance today.
Markets: The Australian share market is expected to open higher, and build on its fresh 11-and-a-half year high, after a temporary US licensing reprieve for Chinese telco Huawei gave Wall Street an overnight boost. And, here’s five things to watch today on the ASX.
RBA rate cut expectations go into overdrive: The big four banks previously estimated the RBA would deliver rate cuts in August and September, but financial markets have put the probability of a rate cut next month at 90 per cent, and they’re forcasting a 25 basis point reduction.
Huawei says it’s full steam ahead for Aussie customers: The US has ramped up action against Huawei by cutting off its access to Google app updates, but the Chinese telco has said this won’t affect services in Australia. But, here’s what you should know if you’re in the market for a Huawei smartphone.
Scott Morrison signals he may not come through with those tax cuts: Parliament’s under some heavy pressure to approve Scott Morrison’s promised tax cuts by 30 June, but Treasurer, Josh Frydenburg, has said it isn’t likely Parliament will resume before the end of June, so we may be waiting another year until the cuts are in.
Forget the polls, you could’ve Google searched the election results: Saturday’s election result was a shock for most after polls predicted a Labor win, but Google experts say trending keywords could’ve shown you the winner before it was announced. Here’s how.
Election funding: Clive Palmer’s United Australia Party has lost out when it comes to public election funding, with his party only expected to reap $640,000 of its $50 million campaign spend.
Click frenzy: The Click Frenzy sale is still underway until midnight tonight, so here’s everything you need to know about it.
Property market boost: Australia’s banking regulator, APRA, has signalled it may relax serviceability assessments for new residential mortgage loan applications, which could potentially allow home buyers to borrow more to fund their purchase.
Jamie Oliver’s UK restaurant empire has collapsed: The British chef and TV personality has filed for bankruptcy protection for his UK restaurant chain. Two restaurants and a diner at Gatwick Airport will remain open while administrators investigate.
Have a great day.
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