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5 things you need to know today

President Trump is delivering his first State of the Union address today. Trump is expected to tout a long bull run on Wall Street and improving growth rates, something the White House is calling a "Trump bump" linked directly to the recent "Trump tax cut."

Cancer drug developer Sirtex has surprised investors with an agreed $1.58 billion takeover of the company, less than a year after it initiated a cost-cutting drive and restructure of the business. The Australian listed company revealed late yesterday that after reviewing a list of unsolicited offers last year, it had entered an agreement with US-based Varian Medical Systems to acquire Sirtex for $28 per share.

Bitcoin has plunged 12% to below 10,000 amid a broad cryptocurrency sell off. There was no significant driver behind the widespread dropbut; perhaps people are coming to their senses as they realise Bitcoin is down 28% this month!

Australian tennis loud mouth Bernard Tomic has called quits and walked out on only the second day of “I’m a celebrity get me out of here”. He becomes the first contestant ever to leave the jungle on their own will. Tomic is to resume his tennis career ‘apparently’ when he returns home.

Wall Street has had its worst day in eight months. The Dow Jones finished 1.4% lower at 26,077, the S&P 500 also finished lower on 1.1% at 2,822, and the Nasdaq closed lower on 0.9% at 7,402. In Europe, the FTSE closed lower on 1.1% at 7,588, the German DAX finished lower on 1% at 13,198, and the Euro Stoxx 50 closed lower on 0.1% at 3,607.

Published on: Wednesday, January 31, 2018

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