10 things you need to know this morning in Australia

Elon Musk smoked weed on Joe Rogan’s podcast in September. Joe Rogan Experience/YouTube

Good morning.

1. US stocks opened strongly overnight but lost momentum into the close, following two days of heavy falls. Meanwhile, ASX futures traders are betting the local market will open higher this morning. More from markets here. Reminder, US markets are closed for the Thanksgiving holiday, meaning it could be a quiet day in the absence of any unexpected news.

2. The Australian dollar rebounded on Wednesday after a shellacking a session earlier, helped by an improvement in investor risk appetite. A rebound in stocks and crude oil, soft US economic data, along with speculation over the future path of monetary policy from the US Fed all helped the Aussie’s cause. At 8am, the Aussie was up 0.65% to 0.7260.

AUD/USD Hourly Chart Investing.com

3. Everyone’s talking about this train wreck interview from Sky News last night where a Victorian Liberal Party candidate for the state election hopelessly attempts to outline an idea to start a tender process for a power station at no cost to the taxpayer. Join the agony here:

4. Former Prime Minister Malcolm Turnbull has hit back at Liberal Party members who moved to expel him for following an anti-Abbott Instagram account. Turnbull said “following someone on Instagram or Twitter does not imply support, approval or endorsement”. The motion to have him expelled will now go to the federal conference.

5. Amazon will resume shipping to Australia from its US store from midnight tonight. The move follows customer complaints after the retailer’s decision to stop shipping on July 1 in response to the Federal Government’s making the charging of GST by overseas retailers compulsory. The reversal coincides with the mega-sale event Black Friday which kicks off tomorrow. (We’ve rounded up some early deals from David Jones, Microsoft and others. Stay tuned for deals from Amazon.)

6. Shares in the new company Coles, split from Wesfarmers, appeared on the ASX for the first time yesterday. While they only appeared on a deferred settlement basis, they will start trading Thursday next week. Wesfarmers shares fell 27% to $31.96 as a result.

7. Horrific. The dead baby that washed up on Surfers Paradise beach in Queensland was drowned by her family as a “sacrifice,” according to police. The nine-month-old baby girl is believed to have been thrown into a harbour in Tweed Heads, approximately 27km south of where the body was found.

8. A Malaysian-Australian model — once voted Malaysia’s most eligible bachelor — has been killed while fighting for ISIS in the Middle East. ASIO has confirmed the death of Amirrudin Hud Rashid Milson, who died in 2016 in Syria. He joins more than 220 Australians who have left to fight for ISIS overseas.

9. NASA is very busy right now. The space agency’s Mars lander is just days from reaching the Red Planet. Here’s how to watch the InSight landing live. But the organisation has also chosen to launch a safety review of SpaceX after Elon Musk smoked weed live on the internet. Oh, boy.

10. A drone flew for more than an hour to deliver a fresh human kidney — and it arrived healthy. Yep, this could be the future of healthcare.

BONUS ITEM: The red dust is descending. It’s getting pink in Sydney and the BOM has a great shot of the scale of the storm:

Picture: Bureau of Meteorology

Have a great day.

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