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Published on: Thursday, April 13, 2017

  • Today Prime Minister Malcolm Turnbull will be briefed on the Government’s housing package at an expenditure review committee meeting. The Australian reports that senior cabinet ministers will jointly push for Turnbull to back a “super for first home buyers” package ahead of the meeting. Senior cabinet ministers have reportedly expressed their support, in principle, for a proposal allowing young families to access super based on their savings levels. Turnbull has previously expressed views against allowing Australians to dip into their super, but has not ruled it out of the housing package (The Australian).
  • US stock markets finished lower yesterday after comments by US President Trump on the dollar and interest rates raised uncertainty in markets. In a Wall Street Journal interview, Trump was quoted as saying the US dollar was “getting too strong” though he said he wanted to see interest rates remain low. Adding to investor caution was rising US tensions with Russia, North Korea and in the Middle East. The Dow Jones index fell 59 points or 0.3%, the S&P 500 index fell 0.4%, and the Nasdaq fell 31 points or 0.5%.
  • On April 19, Nabtrade will be donating all of its brokerage fees to the Luke Batty Foundation, making it the first Australian financial institution to donate online brokerage fees to charity. The Luke Batty Foundation works to raise awareness of domestic violence and increase funding for support services for those affected. Donations can also be made directly on the website today.
  • Global oil prices fell yesterday on the back of crude inventory data, which indicated a heavily supplied market. The report said stockpiles at US crude hub at Cushing, Oklahoma rose 276,000 barrels in the latest week. Brent crude fell US37 cents or 0.7% to US$55.86 a barrel, while US Nymex fell by US29 cents or 0.5% to US$53.11.
  • At 0700 AEST on Thursday the share price futures index was down 31 points, or 0.52 per cent, at 5,896.


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