Business News

5 things you need to know today

  • This week, 2,407 auctions were held across the combined capital cities. According to research house CoreLogic, the preliminary auction clearance rate was 69.6%, compared to last week’s final clearance rate of 67.8% across 1,279 capital city auctions. “This is the 3rd week in a row now where the combined capital city clearance rate has trended below 70 per cent”. You can view the preliminary results for each capital city in the table below:


Source: CoreLogic

  • US share markets finished mixed on Friday. The retail sector was hit after Amazon made a shock deal to acquire the high-end US grocery chain, Whole Foods, for $US13.7 billion ($A18 billion). Amazon shares rose 2.4%, while Whole Foods shares surged by 29.1%. Wal-Mart, Target and Costco felt the heat. The Dow Jones finished 24 points or 0.1% higher, the S&P 500 index rose by less than 0.1%, while the Nasdaq lost almost 14 points, or 0.2%
  • Millennials are looking to the share market when it comes to building their wealth and getting a foot on the property ladder. According to findings released from the Commonwealth Bank, millennials now make up nearly 30% of active CommSec accounts, which represents about 70,000 trades per month. “As we all know it is becoming more and more difficult to save for a house so part of the reason millennials are turning to the share market is to grow their savings,” noted CommSec MD, Paul Rayson (AAP).
  • Global oil prices rose on Friday on the back of reduced exports from some producers, and slowing US rig additions. Kazakhstan said it would cut supplies in June and July after overproducing for three months in a row (AAP). Brent crude rose by US45 cents, or 1.0%, to US$47.37 a barrel. US Nymex rose US28 cents, or 0.6%, to US$44.74 a barrel.
  • At 0700 AEST on Monday, the share price futures index was up nine points, or 0.16 per cent, at 5,723.

Published on: Monday, June 19, 2017

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