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5 things you need to know today

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Published on: Monday, July 15, 2019

1. The S&P/ASX 200 could be on track to overtake its previous record high of 6828.70 this week. The index closed at 6,696.50 points on Friday, within 2% of the record.

2. The Reserve Bank's reasoning for cutting interest rates last month and this month have been misinterpreted according to Deloitte Access Economics' Chris Richardson. "The Reserve Bank could have made this decision any time in recent years, but because it has decided to do it now, at a time when the economy is slower, everybody assumes that the economy must be going to hell in a hand basket. It really isn’t," Richardson said according to the AFR.

3. Almost two million Australian workers are already receiving super contributions of 12% or more from their employers according to analysis released by Industry Super Australia.

4. Median property prices in the capital cities are expected to rise in 2020 according to a report by BIS Oxford Economics, but high levels of supply are expected to limit the rise. House prices in Brisbane are predicted to see the biggest increase, with growth of 20% over the next three years.

5. The major US indexes ended last week on record highs, with the S&P closing above 3,000 points for the first time on 3,013.77. For the week, the Dow Jones was up 1.5%, the Nasdaq rose 1% and the S&P 500 gained 0.8%.


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