10 things you need to know this morning in Australia

Thank you very much. Again. Picture: Getty Images

Good morning. It’s looking like a big week.

1. Iron ore soared over the weekend. The spot price for benchmark 62% ore jumped by $2.11, or 3.91%, to $56.04 a tonne – the largest one-day percentage move since August 3. Unfortunately, no one’s really been able to pinpoint why, but futures suggest the rally will continue tonight.

2. It looks like today is “Experience This” Monday. There’s a couple of great reads floating around about people taken out of their comfort zone. Here’s what it’s like to be:

3. The bulls might be losing their grip on stocks, but they’re still firmly in are in control of commodities right now, and that’s good for Aussie traders to build on from Friday’s 0.58% rally. But moves in Asia today and the US and Europe tonight are likely more important than anything else happening here, where we get company profits and inventories at 11.30am AEST, plus the release of the TD Securities monthly inflation gauge, private sector credit, and HIA new home sales. Building permits and the ANZ activity and business confidence are out in New Zealand, while Japan releases housing stats and construction.

4. But the week ahead – oh, the week ahead. It’s huge. Try ISM manufacturing data, non-farms payrolls and job cuts and claims in the US. PMIs around the globe. And how about an RBA board meeting, Australian GDP, and an ECB meeting! Get in! Here’s Westpac’s excellent guide to all the big releases.

5. It’s good to be an unskilled labourer. Outdoor work, smokos, jokes you’re not allowed to laugh at when the missus is about, and no $250,000 student debt to pay off. Even better, if you’re on an EBA in Victoria, you’re now getting paid more than firefighters, engineers and teachers, and enjoyed a hefty 5.5% raise every year going back to 2000.

6. Apple. Here’s some news just over a week out from its big event, with 9to5Mac claiming it has the skinny on the new Apple TV. For starters, it will be nearly three times more expensive than the current model – but that means it could have motion sensors and support a decent app store. And its streaming service could launch as soon as next year, but you’re looking at upwards of $50 a month to use it.

7. If you’re still flipping Apple with Android, BI’s Lisa Eadicicco spent a week switching between the iPhone 6 and Samsung’s Galaxy Note 5. Here’s what she found.

8. Jason Day is crushing it, crusing to his third PGA win in four tournaments. Here’s a 33-footer the Aussie just drained on his way to winning The Barclays in New Jersey this morning – a cool $2.07 million worth.

9. Struggling to pay off your debt? Stop faffing around trying to please everyone, then. Libby Kane spoke to a financial planning whiz and put all the debts you’ll most likely have in order of which to pay off first. Hint: Taxes are way down the list.

10. Poor Joe. There’s reports the Coalition won’t do so well in the Canning by-election on September 19. There’s also reports that if it loses, the Liberal Party could sacrifice Joe Hockey, in the hope that it will secure Abbott’s leadership going into the federal election next year. Which could be as soon as March.

Have a great day.

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