10 things you need to know this morning in Australia

Onya Daz. Picture: Marvel

Good morning.

1. The big drag. Reporting season on the ASX is winding down and it’s not exactly rosy with CommSec reporting that “including all companies, profits fell 15.1 per cent over the year to $30.4 billion”. Boo. But wait – that’s from 128 companies. Let’s take out one – say, BHP – and see how the other 127 fared.

“Excluding BHP Billiton, aggregate profits rose by 8.5 per cent to $36.8 billion

There’s more from CommSecc on that here.

2. To markets, which in the US failed to again break out of the 1% trading range after the Fed met at Jackson Hole. Chair Janet Yellen and deputy Stanley Fischer said yes, a September hike is on the table, and the US dollar rose a little. SPI 200 traders also cared less, and the September contract is down just 4 points. The Aussie dollar is lower, iron ore is down, and oil is up but off its Friday night highs.

3. So maybe this week in data could shock traders into action. There’s a bunch more Fed speeches and non-farm payrolls for August on Friday night is the drop traders will all be watching. In Australia, the most market-sensitive releases this week are Q2 Capital Expenditure and Retail Sales, both out at 11.30am AEST Thursday. Japan has Jobless Rate, Household Spending, and Retail Trade on Tuesday and Thursday is big in China, with the official Manufacturing and Non-manufacturing PMIs followed 45 minutes later with the Caixin Manufacturing PMI. There’s even more in Greg McKenna’s diary right here.

4. If you’ve been wondering what Thor was up to while waiting for his next call up from the Avengers, Marvel tracked him down. And his roommate, Darryl:

5. Want to be rich in 2051? Invest in North Korea. Specifically, according to legendary Quantum hedge fund founder Jim Rogers:

“If we all bought North Korean currency, we’d all be rich someday”

So why 2051? Because that’s 35 years from now, and right now, according to Rogers, North Korea is exactly where China was 35 years ago.

6. If you’re looking for a an apartment in one of Australia’s capital cities, we feel for you. But there’s some light on the horizon from Citi, which says the oversupply glut is coming, and it’s looking increasingly likely that bargains will be there to be had in the not-too-distant future. Here are the exact suburbs in which Citi thinks Australia’s apartment boom could unwind.

7. We got private wealth adviser Matt Felsman in to chat with us about that worrying disquiet and the likely extreme move to come when it breaks. And the AFL finals. You can find our Devils and Details podcast on iTunes, or listen in below and keep reading to the Bonus Item:

8. Facebook made some big changes today. You might notice how the content in your Trending Topics has changed slightly, maybe. You definitely won’t notice how Facebook is editorialising that content these days… by giving the job to robots and giving the 15 to 18 humans working on the feed an hour to get out of the building. Reportedly.

9. Are you scared? It’s most likely not because you’re about to do this:

But because free solo climber Alex Honnold does scale things like 900m El Sendero Luminoso limestone cliff in Mexico, he can teach us all a thing or two about conquering fear. First off, the Medical University of South Carolina did a brain scan on Honnold while showing him lots of scary things, and actually, his brain is quite different to that of most people. But Honnold says he got it that way by training it, and recently told podcaster Tim Ferris how he did it, and how you too can never be scared of anything again.

10. If you’re feeling a little unloved, we’ve asked science to tell us which group of physical traits make men attractive to women.

BONUS ITEM: This is not how to plead not guilty:

Have a great day.

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