Call us on 1300 794 893

Business News

6 things you need to know today

| More

Published on: Wednesday, February 07, 2018

  • Overnight Wall Street saw a choppy trade session, with the S&P500 falling sharply at the open before scraping higher into the close. The Dow Jones ended its day 2.3% higher at 24,913, clawing back its massive losses from the previous day. The S&P 500 rose 1.7% to close at 2,695. The Nasdaq composite also rose 2.1% to 7,116. To Europe, and the FTSE fell 2.6% to 7,141, and the DAX -2.3% at 12,393.
  • Local markets played copycat with the US yesterday, with a 3.2% dive on Tuesday, taking the index back to levels last seen in mid-October. ASX futures traders expect to follow last night's US market gains.
  • CBA has recorded a 5.8% increase on underlying profits to $5.11 billion after results came out on Wednesday morning. Commonwealth Bank has set aside $375 million to cover fines it may face from a money laundering compliance scandal, and a further $200 million for a series compliance and compensation costs it may also face. The net profit after taxt was $593 million for the six months ending 31 December 2017.
  • A 6.4 magniude earthquake has hit the coastal city of Hualien in Taiwan overnight, leaving two peope dead and more than 100 injured after builings including a hotel collapsed.
  • The Reserve Bank has signalled that the next increase in interest rates is still some time off, after they left the official cash rate on hold at a record low of 1.5% at its first meeting of the year. Business conditions were positive and the outlook for non-mining investment is improved, while increased public infrastructure investment was also supporting the economy.
  • Barnaby Joyce is expecting a child with his new partner and former media advisor Vikki Campion, only months after he confirmed the split from wife Natalie.

New on Switzer

blog comments powered by Disqus
  THE SWITZER FEED
Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300