1. CBA goes over $100

The big banks copped a lot of hate mail during the Royal Commission but CBA shares have broken through the $100 barrier for the first time as investors count on bumper capital returns in the coming months, but analysts are split on where the share price can go from here. The success in beating the Coronavirus has pumped up the economy and the big banks share prices are surging, but they could find the going tough from here.

2. Amazon hunting for customers

TV streaming service Amazon is upping its ante to attract more customers. Amazon says it is buying MGM, the fabled US movie studio home to the James Bond franchise, for $US8.45 billion ($10.9 billion), giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.

3. More tax cuts on their way

More tax cuts are coming with Labor likely to accept the Morrison Government’s third round of tax cuts. Labor is moving closer to supporting Scott Morrison’s $17 billion-a-year stage three tax cuts and will not seek to permanently entrench the Low and Middle Income Tax Offset, if it wins the next election. The Australian says the opposition will not repeal the legislated $130 billion final stage of tax cuts for middle- and high-income earners, with a final policy expected within months. Losing last weekends by election will make Labor change a few of its unpopular policies.

4. Philadelphia chefs build 155-metre cheesesteak

A group of chefs in South Philadelphia, Pennsylvania have assembled a cheesesteak sandwich measuring 510 feet (155 metres) and filled with hundreds of pounds of meat and cheese. The chefs beat their original goal of 480 feet, and said they plan to make even bigger sandwiches in the future.

5. US stocks rise slightly

The Dow Jones rose by 10.59 points or 0.03% to 34,323.05 and the S&P 500 gained 7.86 points or 0.16% to 4,195.99 on Wednesday. The Nasdaq performed slightly better, rising 80.82 points or 0.59% to 13,738.00. Ford was the best performing company of the S&P 500 with a rise of 8.51% after announcing an increase to its investment in electric vehicles.