24 February 2020
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5 things you need to know today

AAP Image/Lukas Coch

5 things you need to know today

Switzer Daily
4 February 2020

1. As Barnaby Joyce challenges Michael McCormack for the leadership of the National Party and Queensland MP Llew O'Brien plans to move a motion to spill McCormack's position this morning, The Australian reported that, of the 21 members of the Nationals, "more than half" were considering voting against the current Deputy Prime Minister.

2. The Reserve Bank will announce its first interest rate decision of 2020 at 2:30pm this afternoon. While most economists are predicting rates will be kept on hold at 0.75%, the AFR highlighted that those at ING, Morgans and Deutsche Bank are predicting cuts of 0.25%

3. Oil prices fell to their lowest levels in over a year, with both the US West Texas Intermediate and Brent Crude seeing drops of more than 3%.

4. Britain could be the 'Superman' of free trade according to Boris Johnson, who said in a speech that "humanity needs some government somewhere that is willing at least to make the case powerfully for freedom of exchange, some country ready to take off its Clark Kent spectacles and leap into the phone booth and emerge with its cloak flowing as the supercharged champion of the right of populations of the earth to buy and sell freely among each other".

5. The Dow Jones rose 143.78 points or 0.51% to 28,399.81 at the start of the trading week on Wall Street. The S&P 500 moved 23.40 points or 0.73% higher to 3,248.92, while the Nasdaq gained 122.47 points or 1.34% to 9273.40.

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