Good morning. It’s Monday and there’s no denying it.
1. Data! It’s the start of the month, which means the diary is chockers. How’s AiGroup manufacturing PMI, TD Securities monthly inflation index, HIA home sales and ANZ Job Ads grab you? And that’s just today! You’ll need Westpac’s excellent guide to the rest of an epic week.
2. To stocks, and the big news is Athens will re-open today, having been closed since late June. There’s likely to be a solid downward move and futures are indicating the ASX 200 is going to have a weak start to an otherwise big week, given all the data and earnings reports. But for now, the physical market is up near the recent resistance level of 5700 and it’s a bank holiday in Sydney.
3. In China over the weekend, the release of official PMI data which “failed to validate the sharp decline in the earlier Caixin (formerly HSBC) Markit version that recall fell to 48.2 from 49.4,” according to Ray Attrill, NAB’s co-head of global currency strategy. “It slipped to 50.0 from 50.2 and the 50.1 expected. The services reading rose to 53.9 from 53.8.” Today is PMI day again in Asia and around the world, but it seems none of this matters on the stock market – after a day of small moves, the Shanghai composite index flipped around to end down a little more than 1%. Greg McKenna reckons it’s a sign the market is becoming illiquid.
4. Today in tech. Facebook is the undisputed king of the tech industry, getting it so right on so many fronts that it’s hard to see the juggernaut ever slowing down. Meanwhile, Microsoft got Windows 10 so right, Apple fans want it on their Macs. And Twitter’s such a basket case, the Wall Street sharks say it’s approaching takeover price.
5. The price of crude oil is crashing, but the price of petrol isn’t. You might not be at all surprised at that, but enough people want to know why, it got Westpac senior economist Justin Smirk writing a note to clients about it. You too can read it here.
6. Bronwyn Bishop resigned as Speaker yesterday. In case you missed it, the Liberal MP has been under pressure for several weeks as details emerged of her extravagant use of helicopters and limos to attend private functions. Her statement yesterday said Bishop resigned due to her “love and respect for the institution of Parliament and the Australian people”. Here’s all the names being mentioned as her possible replacement.
7. Summer’s still depressingly far away, but now’s as good a time as any to brush up on your water danger awareness. Have a go at spotting which kid needs help in this pic:
It might be harder than you’d think, as there’s almost never any splashing, waving, or shouts for help. So computer programmer Francisco Saldaña built an interactive educational game called Spot the Drowning Child to help you out. Did you get it right?
8. You know that thing you’ve been meaning to do for all that time now but you haven’t got around to doing it just yet, but will? Here’s eight research-backed mind tricks to help you turn off Netflix and get it done.
9. Be smarter. We recommend a lot of reading at BI, but listening, not so much. So this one goes out to you, podcast fans – some prime listening material for your next commute with 17 podcasts that will make you smarter.
10. Speaking of enormous brainpower, the long-awaited ‘Zoolander 2’ trailer has finally dropped.
BONUS ITEM: Aussie bike daredevil Robbie Maddison has defied death for some 10 years with insane jumps up, down and across things. Obviously bored, he’s now officially lost the plot:
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