1. US stocks made a comeback on Thursday, the day after the major averages wiped out their gains for the year. Buoyed by solid corporate earnings, Thursday’s advance has traders putting worries about rising interest rates and the prospect of a slowdown in global economic growth on the back burner. The tech-heavy Nasdaq led the way higher after sliding into a correction on Wednesday when it fell more than 10% below its recent peak. The Dow Jones Industrial Average and the S&P 500 also posted impressive gains.
2. The Australian dollar is gaining across the board, paying scant attention yet again to the wild gyrations in global stocks seen during the session. Firmer bulk commodity prices and a reluctance to test technical support may explain the Aussie’s resilient performance. At 8am AEDT, the Aussie was up 0.28% to 0.7078.
3. Amazon’s Q3 profit just blew through Wall Street’s forecast. Analysts were predicting that on a per-share basis, Amazon’s profit would be six times larger in the period than it had been in the same quarter a year earlier. In actuality, the company’s earnings per share in the third quarter were more than 10 times larger than the prior year quarter.
4. Bust out the asbestos budgie-smugglers. No really, because this terrifying map shows it’s going to be a scorching summer right across Australia. Below, the deep red indicates there’s an 80% chance it’ll be hotter than usual.
5. “I am worried about the systemic risks associated with these loans.” That’s from former Federal Reserve chair Janet Yellen, who said she is concerned about increasingly lax standards in the market for leveraged loans. It echoes warnings from the US Fed, the Bank of England and the Reserve Bank of Australia about the corner of the debt market that, according to the Institute of International Finance, has ballooned to $US1.6 trillion.
6. Google reportedly gave Andy Rubin, the creator of Android, a $US90 million exit package after deciding he needed to leave because of a sexual-misconduct investigation. The New York Times published the details of the allegations made against him.
7. Facebook has been fined almost $1 million by the UK’s Information Commissioner’s Office for the Cambridge Analytica data breach. It is the maximum possible fine available to the British watchdog, but would have been much higher had Europe’s GDPR rules been in force when the breach took place.
8. A no deal Brexit is now the “most likely” outcome, according to the Scottish government. “Where we are now boils down to an inability to find a way both to have the backstop and to have an agreement which will get the support of the Tory party and the government,” Michael Russell, Scotland’s Cabinet Secretary for Government Business and Constitutional Relations told Business Insider UK exclusively. Read the full interview here.
9. Saudi Arabia says that evidence from the Turkish investigation into the murder of Saudi critic Jamal Khashoggi’s death indicates the killing was premeditated, contradicting previous claims that his death came by accident during a fistfight that broke out in the country’s consulate in Turkey.
10. Grreeaatt. Just when you thought it was creepy enough that your smartphone might be listening to you, a cybersecurity expert showed us how hackers can tap into an office phone and listen to everything you’re saying.
And finally… a 10a because there’s so much going on today. Australian scientists have found a way to make the internet 100 times faster using a nanophotonic device that encodes more data and processes it faster by using a special form of twisted light. RMIT’s Dr Haoran Ren says the tiny device is the missing key to super-fast, ultra-broadband communications.
BONUS ITEM: These tiny wasp-inspired drones can open a door 40 times their weight, and could one day be used in disaster zones.
Have a great day.
You can get 10 things direct to your inbox each morning by punching your details into the form below.
Business Insider Emails & Alerts
Site highlights each day to your inbox.