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5 things you need to know today

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Published on: Tuesday, May 07, 2019

1. The Reserve Bank will announce its latest interest rate decision at 2:30pm AEST today. 14 of the 26 economists polled by Bloomberg expect a cut, while 25 of the 42 economists polled by Reuters expect rates will remain unchanged.

2. Following on from the latest Newspoll and Ipsos poll, the latest Guardian Essential poll has put Labor ahead of the Coalition in the two-party-preferred vote 52% to 48%, while the Coalition's primary vote was 38% compared to Labor's 34%.

3. The United Australia Party, One Nation and Centre Alliance are planning to block some of Labor's tax policies in the Senate if the party is elected according to The Australian.

4. US Trade Representative Robert Lighthizer said that there had been "an erosion in commitments by China" during trade talks between the two countries. A Chinese delegation, expected to include Vice Premier Liu He, will head to the US later this week.

5. On the first trading day of the week on Wall Street, the Dow Jones fell as much as 471 points during the session before closing down 66.47 points or 0.25% to 26,438.48. The S&P 500 fell 13.17 points or 0.45% to 2,932.47 and the Nasdaq slipped 40.71 points or 0.50% to 8,123.29. 


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