1. JPMorgan in the US says they’re expecting the US stock market to add 10% over the upcoming year. The investment team doesn’t think the winner of the US election will have material impact on their projections for the share market. Volatility is expected and it’s told its private clients to buy on the dips. But what to buy? They think it’s going to be good for cyclical stocks and so industrial, construction and healthcare are tipped to be in favour.

2. In case you missed it, the weekly ANZ/Roy Morgan survey of consumer confidence went to a 14-week high and that’s despite the challenge of Victoria being effectively closed down! The consumer confidence rating rose by 1.6% to a 14-week high of 95 (long-run average since 1990 is 112.6). Confidence has lifted in six of the past seven weeks. Sentiment is up by 45.5% since hitting record lows of 65.3 on March 29 (lowest since 1973).

3. Oops Boris! The Guardian reports that PM Boris Johnson has apologised and said he “misspoke” after wrongly suggesting the “rule of six” limiting public gatherings does not apply outdoors in north-east England, adding to confusion about the latest lockdown rules.

Answering media questions after a speech in Exeter, the prime minister had said: “Outside the areas such as the north-east where extra measures have been brought in, it’s six inside, six outside.”

He went on to say: “In the north-east and other areas where extra tight measures have been brought in you should follow the advice of local authorities; but as I understand it, it’s six in a home or six in hospitality but, as I understand it, not six outside.”

4. How much has the Coronavirus cost our top companies? Accounting group EY says our top 200 companies have written off $32 billion from their balance sheets because of this damn virus. This is the best guess of the CEOs and CFOs who have to calculate how their business has been and will be affected. That said, the AFR says the CEOs are “relatively optimistic” about their companies’ three-year outlook. That might be a good omen for stock players.

5. US markets dipped overnight, with the Dow Jones moving 0.48% lower to 27,452.66, the S&P 500 falling 0.48% to 3,335.47 and the Nasdaq closing down 0.29% to 11,085.25.