Good morning. Here’s what you need to know.
1. More all-time highs for US stocks. Goldman Sachs analyst thinks this rally in stocks is “textbook” and could have some way to run. Sheba Jafari is a technical analyst at Goldman Sachs and has a short-term target of 2,263 for the S&P, and believes that over a month the index could get as high as 2,452, with some pull-backs along the way. Paul Colgan has more, as well as the daily markets scoreboard, here.
2. Multiple people have been injured in an axe rampage on a German train. Four people were injured after a man with an axe attacked passengers aboard a train in southern Germany overnight.
Fourteen other passengers were being treated for shock. The attacker was shot dead while trying to flee.
It’s still early days and not much more is known about the attacker or his motivations. See updates here.
3. Netflix missed huge on both domestic and international subscriber additions in its Q2 earnings today. The stock plunged over 15% immediately following the news. Its big problem: user growth appears to be stalling.
Yahoo’s results were somewhat better, with its second quarter earnings mostly in-line. It beat revenue estimates by a small margin. Stock remains largely flat.
Meanwhile IBM is the winner today, surprising everyone with its Q2 2016 earnings. The company reported a beat on profits and revenue. See more here.
4. Turkey has been warned. The European Union has reminded Turkey that it will not join the EU if it reintroduces the death penalty. This follows Turkey’s prime minister Binali Yildirim’s suggestion that it might be the best way to deal with the instigators of the failed coup on the government.
It’s not the only thing the country should worry about. Elena Holodny think there could still be some economic ramifications for the country if investors continue to feel jittery about Turkey’s political situation going forward.
5. TayTay is not happy. The internet is reeling after Kim Kardashian shared a Snapchat of a phone call between Kayne West and Taylor Swift, in which Swift approved a portion of a controversial lyric from West’s “Famous.” Swift has previously said this conversation never happened.
It comes after Swift apparently threatened West with criminal prosecution for secretly recording their conversation.
Here’s the bombshell Snapchat in question.
Entire video of Kanye West speaking with Taylor Swift on the phone about the 'Famous' lyrics. pic.twitter.com/8Rb2rg3t6I
— Pop Crave (@PopCrave) July 18, 2016
Meanwhile, Nicholas Carlson thinks something else is going on with Swift — and it’s ugly.
6. Amazon CEO Jeff Bezos will play an alien in the new Star Trek movie. Yes, you read that correctly. Bezos, a huge Star trek fan, has a cameo in the third instalment of the Star Trek reboot, “Star Trek Beyond”. He plays an alien who is also a “Starfleet Official”. This is Bezos’ second acting credit — he also appeared as a security guard in a short film called “Tooth Fairy”.
7. The Nice killer was radicalised only two weeks before the attack. Mohamed Lahouaiyej Bouhlel was radicalised only two weeks before he killed 84 people with a truck, according to his uncle. He described his nephew’s life circumstances as “easy prey” for ISIS. Although Bouhlel’s radicalisation has puzzled investigators, experts on radicalisation say this is far from an isolated case. Read more here.
8. This is the most awkward Pauline Hanson moment ever. There have been some cracker gaffes from the anti-immigration MP in the past from “please explain” to “reverse racism” but last night on Q&A probably tops them all. She discovers on live TV that Sam Dastyari, who is sitting next to her, is a Muslim. Watch the reaction.
9. Australia’s energy retailers could be facing the same profitability cliff as print media. The monolithic electricity retailers we currently know – think Energy Australia, Origin, AGL – could be severely disrupted or even vanish as shifts in technology open the door for the likes of Google, Apple, Volvo and LG, according to Sydney startup Mojo Power.
Simon Thomsen sat down with Mojo, which itself a disruptor and wants to upend the way energy is sold in Australia, driving down the cost in the process. Read more here.
10. We know when the seventh season of ‘Game of Thrones’ is going to start. It may have been a long wait for winter to finally come to Westeros, but the seventh season of “Game of Thrones” won’t arrive until next winter in Australia.
Past seasons have premiered in the autumn, so this means we’ll be waiting a little bit longer for our “GoT” fix.
Disclosure: Jeff Bezos is an investor in Business Insider, the partner of Business Insider Australia, through his personal investment company Bezos Expeditions.
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