1. Trump’s back!

Our stock market is bound to be influenced by Donald Trump this week, with Wednesday bringing the US mid-term elections and a Donald Trump inspired Republican party is trying to take Congress, rendering President Joe Biden a lame duck leader for the next two years. The result in this poll will take US stocks up or down. Right now, no one can be certain what Wall Street thinks about a possible comeback for Donald Trump.

2. Stocks set to surge today

Stocks are set to surge today with China set to give up on its zero-Covid restrictions. On Friday, the US received a jobs report that showed a rise in unemployment to 3.7% but the biggest influence on stocks was the news that China would ease Covid restrictions. This sent stock prices higher, with commodities such as iron ore spiking, which is great news for the likes of BHP and Rio Tinto. It also sent the dollar up to 64.7 US cents and our stock market should surge today.

3. Still life in our property market

Rumours of the death of the property market look premature, with auction clearance rates at pre-rate rise levels.

The SMH saysauction clearance rates have improved to levels last seen before interest rates began to rise, as sellers reduce their expectations to get deals done. And agents report that buyers are also returning to the market after the initial shock of seven interest rate rises subsides. This follows Sydney and Melbourne having the fastest ever house price falls in the September quarter of 5.2% and 4.3% respectively, but the comeback of buyers might stop overall prices falling by 25-30%, which have been predicted by some.

4. Albo waters down his wage bill

PM Anthony Albanese is watering down his tough wage rise bill.

Labor has a new industrial relations Bill before Parliament that would mean a wage rise for all workers in a particular industry could be negotiated, no matter if a business could afford it. But after a backlash from Australia’s biggest employers, miners and farmers, the federal government was forced into further compromises, including a provision that a majority vote in each workplace had to happen before industrial action or multi-employer bargaining agreements could proceed.

5. A2 Milk has a win!

a2 Milk Company has had a major unexpected win last week after the US Food & Drug Administration (FDA) has approved the temporary import tins of formula into the market. The chance to sell up to 1 million tins of its a2 Platinum comes as the US continues to face challenges in baby formula availability after a contamination scare in February. This gives a2 Milk a shot at entering the second-largest formula market in the world.