Prices current at approx. 8:35am AEDT
There’s a warning this morning that Australia’s living standards will plunge in the years ahead unless the federal government tackles stalled productivity.
The Business Council of Australia is using a report to be released today to urge Labor to slash taxes and industrial relations red tape to address the lowest level of productivity in 60 years.
Take a listen to ABC’s senior business correspondent Peter Ryan wrap of this morning’s business news.
The tech-heavy Nasdaq closed higher on Monday (US time), as Tesla shares jumped, and investors eyed financial results.
The Nasdaq rose 0.6% to settle at 18,791, while the S&P 500 gained 0.4% to close at 5,893. The Dow Jones Industrial Average lost 0.1%, to finish at 43,389.
As mentioned on this blog, Tesla rallied on news reports Trump’s team is working on ways to ease regulation on self-driving vehicles.
Apple and Netflix gained 1.3% and 2.8%.
Energy stocks led the S&P with consumer discretionary also rising. Industrial stocks saw the biggest sector decline.
With the key holiday shopping season set to commence, results from major retailers including Walmart, Lowe’s Companies and Target will be closely watched this week to gauge the strength of the US consumer.
Turns out younger people aren’t splurging on avo toast and other luxuries at the same rate as those over 40.
Check out this piece from ABC business editor Michael Janda:
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Did you catch The Business with Kirsten Aiken last night?
Institutional shareholders recommend vote agsint Min Res’ renumeration report
Woolworths’ boss gets a grilling at ACCC supermarkets inquiry
Catch up on iview here:
What’s been happening on Wall Street overnight?
Elon Musk’s Tesla continues to be a focus, up about 5%. This time the stock jumped on the prospect of favourable policy changes from the incoming Trump administration.
Bloomberg’s reporting Trump’s team is working on ways to ease regulation on self-driving vehicles.
AI leader Nvidia’s shares were down 1.5% after a report said its new AI chips were overheating in servers.
Apple and Netflix rose about 2%.
Energy stocks led the S&P.
We’re about 30 minutes off Wall Street closing.
Rhiana Whitson here signing on for blog duty this Tuesday November 19.
We’ll be bringing you the latest on equity markets, finance, business and economics.
Overnight on Wall Street, Tesla shares have rallied boosting the tech-heavy Nasdaq. Trump is reportedly easing restrictions on self-driving cars.
In Australia, the share market is expected to rise after closing 0.2% higher at 8,300 points on Monday.
Stay tuned for more updates.
