1. Bitcoin: speculation bordering on punting?

Bitcoin players are still in worry mode as the cryptocurrencies debut as legal tender saw its price fall 16% at its worst. In the speculative world of cryptocurrency, bitcoin is the star and the fact that El Salvador was to adopt it as legal tender was thought to be a plus. But after rising in value ahead of its official entry into the El Salvador economy, it’s now down 12%, showing why the sensible world of investing sees cryptocurrencies as pure speculation bordering on punting.

2. $54 billion down the shaft

The world is starting to gang up on Australia’s coal industry, with a leading UK university telling us we have to keep 95% of our coal in the ground. Ahead of the Glasgow climate summit in November, a study from University College London, found nearly 60% of oil and fossil methane gas and 90% of coal reserves must stay in the ground by 2050 to meet the Paris Agreement target. This comes as the UN this week called on Australia to end coalmining and find new jobs for workers within 10 years. Coal exports last year gave us $54 billion dollars!

3. Churning out billionaires!

Macquarie Group, our fifth biggest bank, has given the market an update and its share price soared 6.7% in a day, even as the overall stock market fell. Macquarie Bank has long been called the millionaires’ factory but soon it could be called the billionaires’ factory, after its latest update saw its share spike over 6% at one stage after a half year profit close to $2 billion dollars. If you’d invested in Macquarie at the bottom of last year’s stock market crash, you would’ve made 123% on your money in 18 months!

4. Elvis Presley’s hair sells for $98,000

A jar containing Elvis Presley’s hair that was collected by the King’s personal barber has sold for US$72,500 ($98,425) at auction. “This isn’t a lock of hair that you typically find, but is a massive, baseball-sized specimen which has not been offered for sale in nearly 20 years,” Kruse GWS Auctions said in describing the piece. A jumpsuit worn by Elvis in a performance at Madison Square Garden fetched a record US$1,012,500 ($1,374,500) during the auction.

5. Dow down for the third day in a row

Overnight on Wall Street, the Dow Jones fell by 68.93 points or 0.20% to 35,031.07, the S&P 500 closed down 5.96 points or 0.13% to 4,514.07 and the Nasdaq dropped 87.69 points or 0.57% to 15,286.64.