Business News

5 things you need to know today

1. The S&P/ASX 200 was briefly above its record-high close of 6,828.7 points during trade yesterday before closing at 6,825.80. The intra-day record for the index is 6851.5 points.

2. According to the latest Household, Income and Labour Dynamics Australia survey, the median household income in 2017 was $80,905, down over $500 from 2009 when factoring in inflation.

3. The federal government is expected to release draft legislation today in response to the Hayne Royal Commission. The AFR reported the legislation would relate to unfair insurance contracts.

4. President Donald Trump has again lashed out at the Federal Reserve ahead of its next interest rate decision this week, tweeting: "The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!"

5. The Dow Jones and S&P 500 were relatively flat as trading kick off in the US on Monday, up 0.11% and down 0.16%, respectively. The Nasdaq closed down 0.44%, dragged down by Facebook and Amazon.

Published on: Tuesday, July 30, 2019

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