1. Russia test-fires nuclear-capable ICBM in warning to US allies
Russia said it test-fired a new intercontinental ballistic missile, a move President Vladimir Putin said would give the U.S. and its allies something to think about. The Russian leader was shown on state television watching a video of the missile launch and remarked that “this unique weapon will strengthen the military potential of our armed forces, will reliably guarantee Russia’s security against outside threats and force those, who in the heat of frenzied aggressive rhetoric try to threaten our country, to think again.”

2. Bring down the debt
Ahead of the election, the International Monetary Fund (IMF) says the next government has to start paying down the $889 billion of gross debt. To save the economy, businesses and jobs, the pandemic meant the Morrison Government increased its budget deficit, which then builds up the nation’s debt. It doubled from 30.5% of GDP to now be 62.5%. The IMF says tougher budgets are needed ahead to reduce the debt. That said, other nations are more in debt with the US debt at 124% of GDP, and Japan’s is over 250%!

3. Netflix given the flick
The local stock market is set to go higher today after a strong lead from Wall Street, but it’s no thanks to Netflix, whose share price was smashed. The once unbeatable Netflix reported a loss of subscribers, so its share price slumped 36%. It’s now US$36 billion less valuable. The end of viewers in lockdown and more competition from the likes of Disney have hurt the company. And naughty customers haven’t helped, with an estimated 100 million households sharing subscription passwords with family and friends!

4. US raider targets Ramsay Health Care
Australia’s biggest private hospital group, Ramsay Health Care, is a target of a $20 billion takeover and the US raider has the nurses and health workers industry superannuation fund HESTA helping them. US investment company, Kohlberg Kravis Roberts, has offered $20 billion to buy Ramsay Health Care and its share price soared 24% to $80 yesterday. The recruitment of HESTA to the consortium gives nurses a chance to indirectly own shares in Ramsay, which will help the hospital business attract and keep workers, when there is a shortage of staff in the sector.

5. ASX to continue higher
ASX futures were up 30 points or 0.4 per cent to 7568 near 7am AEST, with the AUD +1% to 74.49 US cents. On Wall St: Dow +0.7% S&P 500 -0.1% Nasdaq -1.2%. 2-year yield: US -0.02% (2.58%) Australia +0.07% (2.17%). 10-year yield: US -0.11% (2.83%) Australia +0.04% (3.10%).