10 things you need to know this morning in Australia

IMDbThe Italian Job

Good morning.

1. US stocks staged a comeback Tuesday after a three-session losing streak amid optimism for cooling trade tensions between the US and China and a series of strong earnings reports. That’s also expected to see Australian shares lift at the open. ASX futures were up 19 points ahead of 7am AEST.

2. The Australian dollar rose across the board on Tuesday, finding support from mixed Australian economic data, renewed optimism towards trade negotiations between China and the US as well as few signs the Bank of Japan will dial down its ultra-loose monetary policy settings anytime soon. At 7am AEST, the Aussie was up 0.31% to 0.7427.

Investing.comAUD/USD Hourly Chart

3. Facebook said it uncovered and deleted a group of accounts attempting to influence the US midterm elections through a coordinated disinformation campaign. The findings resemble those related to Russian efforts to influence the 2016 election, the social media giant said. Here are some of the posts that Facebook has identified.

4. “Leave immediately or you will pay.” China is increasingly issuing warnings to foreign ships and planes operating near contested territories in the South China Sea, where China has taken steps to strengthen its position through the deployment of jamming technology and various missile systems. The US Navy says it is unaffected by Chinese activities. Meanwhile, a Chinese warship will take part in naval training drills off the coast of Darwin this year despite the prolonged tensions in the bilateral relationship between Beijing and Canberra. The AFR reports a Chinese frigate will participate in Exercise Kakadu in September, alongside 27 nations invited to participate in the exercises.

5. MH370. Business Insider’s Simon Thomsen has penned an excellent opinion piece on the mystery that is MH370, and how the most stunning thing about it remains that 239 people on a $300 million plane simply vanished in the data age. Read it here.

6. Federal Health Minister Greg Hunt has agreed to tear up the controversial legislation behind the My Health Record to protect patients from having their medical records accessed by police. The decision follows crisis talks with the head of the Australian Medical Association in Melbourne on Tuesday night. The My Health Record Act will now be redrafted. The SMH has more.

7. NASA has binned Elon Musk’s plans to terraform Mars after a study found there’s not enough carbon dioxide on Mars to make it habitable for humans. If true, there goes pretty much the entire basis for Elon Musk’s plans to make Mars the kind of place humans might walk freely around on.

8. Australian golfer Jarrod Lyle has made the decision to end cancer treatment and enter into palliative care. The 36-year-old has been undergoing his third stint of cancer treatment after a recurrence of acute myeloid leukaemia last year. Lyle’s wife says “he has given all he’s got to give”. Fellow golfers Adam Scott and Jason Day have sent their heartfelt support to Lyle.

9. It can pay to listen to your kids’ crazy ideas. In 1995, Jeff Bezos was trying to get Amazon off the ground and turned to his mother and stepfather, Jackie and Mike Bezos, for an investment. They complied, investing $US245,573 in the company. At the time, Jeff Bezos warned them there was a 70% chance they’d never see that money again. Now, Bloomberg estimates their investment could be worth as much as $US30 billion — that’s a 12,000,000% return. Boom.

10. Thieves stole priceless Swedish crown jewels from a cathedral in Strangnas, west of Stockholm, on Tuesday. After snatching two crowns and a royal orb known as a “riksapple”, the offenders used a motor boat moored nearby as their getaway vehicle. Despite police launching a land, air and sea recovery operations, the thieves managed to slip away. I feel like I’ve definitely seen this movie…

BONUS ITEM: You haven’t lived until you’ve heard Killing In The Name Of performed with brass.

Have a great day.

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