16 January 2021
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5 things you need to know today

Switzer Daily
3 August 2020

1. Victoria will help fund a series of new economic support measures, including paid pandemic leave for Victorians after a state of disaster was declared yesterday and an 8pm curfew was imposed in Melbourne for at least six more weeks.

2. Consumer confidence has hit the retail sector with spending on fashion and eating out down 16%, according to the Zip Weekly Spending Index.

3. Reporting season: BWP Trust (BWP), Centuria Industrial REIT (CIP), Centuria Office REIT (COF), ResMed (RMD), Nick Scali (NCK), Charter Hall Long WALE REIT (CLW), Insurance Australia Group (IAG), News Corp (NWS) and REA Group (REA) will report their earnings this week.

4. Switzer's ZEET stock update: Zip Co was down 3.09% on Friday, closing at $5.95 (the stock has risen 58% since Peter Switzer backed it on May 29). ELMO is priced at $6.78, rising 5% since May 29, EML is at $3.15, falling 13% since May 29 and Tyro has dropped 9% since May 29, currently priced at $3.43.

5. The ASX is tipped to open flat this morning, despite positive figures on Wall Street. Earnings reports this week and the RBA's meeting on Tuesday are tipped as the reasons for investor caution, with the RBA's Statement on Monetary Policy (announced on Friday) providing more insight into the RBA's economic forecast. The Dow rose 0.44% to 26,428.32 on Friday, the S&P jumped up 0.77% to 3,271.12 and the Nasdaq soared 1.49% to 10,745.27.

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