27 October 2020
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AP/JOEL CARRETT

5 things you need to know today

Switzer Daily
10 August 2020

1. REA Group, the owners of realestate.com.au and more, reported a 6% decline in revenue pinning Melbourne lockdowns as a big contributor to loss. Though, site visits broke a record in June, meaning a number of Aussies are browsing for homes but not prepared to buy.

2. Bloomberg estimates an 80% fall in Qantas' earnings and profits (they report their earnings on August 20), but 5 out of 8 analysts surveyed by Bloomberg are recommending Qantas as a buy.

3. The US economy added 1.8 million jobs in July, driving unemployment down further for the third month in a row.

4. ZEET stock update: Switzer tipped the next wave of WAAAX stocks on May 29, 2020. Zip Co is up 64.4% since then, now priced at $6.18. Elmo is priced at $6.25, down 2.65% after reporting 25% revenue growth last week, EML has dropped 15% currently priced at $3.09 and Tyro fell 12.9% currently at $3.30.

5. The ASX is tipped to rise as the Dow closed up 0.17% to 27,433.48, the S&P 500 rose 0.063% to 3,351.28 and the Nasdaq fell 0.87% to 11,010.98, on Friday close.

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