(AAP Image/Mick Tsikas)

5 things you need to know today

21 January 2020

Canberra was pelted with hailstones the size of golf balls yesterday, as the storm moved up the state, also affecting parts of Sydney. Hundreds of windscreens were smashed at Old Parliament House, the Australian National University and other parts of the city. The storm interrupted power to 14,000 properties in the Sutherland Shire and northern beaches of Sydney on Monday night.
Josh Frydenberg has warned the government's budget surplus is at risk of evaporating due to the economic fallout from the nation's bushfire emergency. The Treasurer said it was still unclear the economic damage caused by the fires.
Donald Trump has added three star lawyers to his defence team for the impeachment trial. They are Kenneth Starr, the prosecutor whose work led to President Bill Clinton's impeachment, Alan Dershowitz, the constitutional lawyer, and Robert Ray, Starr's successor at the Office of Independent Counsel during the Clinton administration.
New research by JP Morgan reveals that the local sharemarket is the most expensive in the world. The data shows that the S&P/ASX ASX 200 Index excluding financials and materials is trading at a 37.9 per cent premium to the global developed markets index. This is attributed to the relatively expensive health care and technology stocks.
Wall street was on the rise again yesterday with the Dow Jones closing 50.46 points (0.17%) higher at 29,348.10, the S&P 500 was up 12.81 points (0.39%) to 3,329.62 and Nasdaq has risen 31.81 points (0.34%) to 9,388.94.

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5 things you need to know today

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