6 May 2024
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5 things you need to know today

Switzer Daily
21 January 2021

1. US markets welcome President Joe Biden

The US stock market has given President Joe Biden a record-breaking welcome to his new job on the day of his inauguration. Despite fears of protests ruining the day, President Joe Biden was inaugurated to succeed President Donald Trump as the 46th president of the United States. Investors are hopeful that the 78-year-old Democrat’s $1.9 trillion Covid-19 relief plan will support the economic recovery and bolster company earnings. And Wall Street showed that the new President was seen as a plus, with the Dow Jones Index hitting an all-time high overnight, which should be a positive lead for our stock market today. And the star stock was Netflix, whose share price was up 16% in one day on strong, subscriber growth worldwide.

2. International airlines say Aussies too strict

International airlines are worried that Australia is going too far with its border restrictions and want a say on the subject. The Morrison Government is coming under pressure from international airlines to have a seat at the table when it comes to the opening up of Australia’s borders to the world. The AFR reports the likes of Singapore Airlines, Cathay and Qatar are bringing many Aussies home from overseas and the airlines were shocked when Health Department head Brendan Murphy warned we mightn’t get to travel overseas until 2022! On hearing this, Emirates officially stopped flying to Australia.

3. First home buyers surprise winners from Covid-19

The Coronavirus has taken many things away, such as interstate and international travel, but it has delivered some wins, such as very low interest rates and a big rise in first homebuyers, who now can get into the property market. Two of the countries biggest mortgage brokers, Mortgage Choice and AFG say over 20% of applications for new loans have come from first home buyers.

4. Capitol rioter charged after sending selfie to federal agent

New York man Thomas Fee has been charged for his participation in the January 6 Capitol riot after sending through a selfie inside the Capitol Rotunda to his girlfriend's brother, who is a special agent with the State Department. The agent passed on the evidence to the FBI’s Joint Terrorism Task Force.

5. ASX 200 reaches 11-month high with stocks set to rise again today

The S&P/ASX 200 rose by 27.80 points or 0.41% yesterday to close at 6,770.40, the index's highest close since February last year. Today is set to be another positive day for the local index following a positive lead in from the US on Inauguration Day. The Dow Jones rose by 257.86 points or 0.83% to 31,188.38, the S&P 500 gained 52.94 points or 1.39% to 3,851.85 and the Nasdaq surged 260.07 points or 1.97% to 13,457.25.

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