10 August 2020
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5 things you need to know today

Switzer Daily
30 July 2020

1. Over the next 24 hours, Apple, Amazon Alphabet and Facebook will report their earnings (these companies make up roughly one fifth of the S&P 500), tipping to have an impact on global markets.

2. Rio Tinto tips Chinese growth to be up 8% next year, fuelling demand for Australian iron ore. China's demand for iron ore lifted Rio's profits to over $US4.75 billion, reporting their half-year underlying profit.

3. Reporting season: CIMIC Group (CIM) and OceanaGold (OGC) will report their profits today.

4. Britain has ordered over 250 million COVID-19 vaccination shots for their population of 65 million. The vaccine being worked up by GlaxoSmithKline and Sanofi is expected to be ready in the second half of next year.

5. ASX is tipped to rally as the Dow rose 0.61% yesterday to 26,539.57. The S&P 500 jumped up 1.24% to 3,258.44 and the Nasdaq was up 1.35% to 10,542.94.

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