1. APRA looks at valuations of companies that super funds have members’ money in

The regulator of financial businesses is questioning the returns of a number of well-known industry super funds, which could shock millions of super members.

The Australian Prudential Regulation Authority      (APRA) is questioning the valuation method of investments many industry super funds make, which aren’t valued on the stock market. In particular, APRA is looking at the valuation of the famous Aussie company Canva, which is a private company. Tech companies on the stock market have been smashed this year but the private valuations of Canva, used by super funds to tell members about their returns, look too high. If the valuations are wrong, the value of members’ super funds could be reduced.

2. Economists question size of latest rate rise

ANZ’s economics team is warning that the RBA’s 0.25% rate rise this week could mean for more rate rises lie ahead. If these economists know more about our economy than the Reserve Bank, then the rate-rising cycle could go on longer than expected as well. Of course, this could be sour grapes from economists who wrongly guessed the RBA’s interest rate increase this week, but if inflation doesn’t fall at a good rate in coming months, the central bank will cop criticism for this lower-than-expected 0.25% rate rise.

3. Stocks expected to be down today

Local stocks are expected to open down today but this follows two hugely positive days for stocks on what usually is called bad news! To be fair, it wasn’t all bad news because the smaller-than-expected 0.25% rate rise on Tuesday helped stocks rise 5.5% in two days, but behind that was evidence (both here and in the US) that these economies are slowing, which usually is seen as bad news. But we need to see this to believe that the central banks higher interest rates are working to lower inflation. And stock prices rise on the news.

4. Tesla is third most bought car

If tech is the future, so is Tesla, which is now a third most-bought car.

The AFR says in September (a month when car sales were up 12.3%) Tesla sales came in at number 3 behind the Ford Ranger and Toyota HiLux. That’s despite the RBA’s six months in a row of interest rate rises. However, this shows not all Australians are in debt or locked into big mortgages and car dealers are happy about that.

5. Market update from AFR

ASX futures down 12 points or 0.2% to 6789 near 6am AEDT with the AUD -0.1% at US64.93¢

Dow flat S&P 500 -0.2% Nasdaq -0.4%

Gold -0.6% at $US1716.05 an ounce

Iron ore +0.2% to $US95.70 a tonne