29 September 2020
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AP/Richard B. Levine

5 things you need to know today

Switzer Daily
17 September 2020

1. Qantas' CEO Alan Joyce continues to question Australia's state border closures, following a petition released by Qantas urging for border reopenings. “What doesn’t make sense to us is we have states with low cases or no cases that are closed to other states,” Mr Joyce told ABC Radio National today.

2. The Buyer Demand Indicator by Domain showed demand for property in Sydney is rising, while property demand in Melbourne falls. Demand for Sydney houses rose 27.5%, while demand for units rose 15.6% for the year. In Melbourne, demand for houses fell 17.3% and 23.4% for units for the year.

3. US software company Snowflake saw its share price soar over 166% during its market debut yesterday. The cloud-based software startup listed yesterday after a US$3.36bn initial public offering (IPO), which is a record for a software company. Snowflake made headlines after Warren Buffett purchased $250m worth of shares during its IPO.

4. The US Federal Reserve signalled interest rates will near zero until at least 2023, in a statement by the central banks on Wednesday. The Fed assured it "expects to maintain an accommodative stance of monetary policy".

5. The Dow rose 0.13% to 28,032.38, the S&P 500 fell 0.46% to 3,385.49 and the Nasdaq dropped 1.25% to 11,050.47.

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