It’s jobs day in Australia! Here’s what you need to know.
1. The market’s expecting 12,000 jobs added in the Australian economy in June. It’s a fragile time: there has been some encouraging news this week with the Performance of Construction Index surging, and business and consumer confidence rising following a worrying period that surrounded the federal budget in May, and an attendant drop in retail sales. Today, the rubber hits the road. Politicians love to reduce their arguments to job creation. So stand up, Treasurer Joe Hockey, at 11.30am AEST. We’ve be covering it live.
2. Stocks recovered after a panicky day on the Australian share market yesterday, when stocks fell a little more than 1%, further than the Wall St lead. Stocks in Hong Kong and Shanghai were also down more than 1% in yesterday’s session. But with the main US bourses rising 0.5% (Dow and S&P 500) and 0.6% (Nasdaq) on confirmation the Fed is likely to exit QE in October, it looks like there’s a little bit more risk on the table. One way to look at it is this: the Fed ending the uncertainty lifted the market.
3. It’s Argentina v Germany in the World Cup final this weekend. After yesterday’s emotional, heart-rending German thrashing of Brazil at home, Argentina and the Dutch played out a dour fixture that finished on penalties with Argentina going through. Kick-off is 5am Monday morning AEST.
4. July blackout. The financial year is done, and reporting season is just weeks away, so executive directors and CEOs all around town are making themselves scarce in the banks and major listed companies that have offices in Melbourne and Sydney. This means some senior people are just below exec level are at a bit more of a loose end over the coming three weeks. If you’ve been looking for a meeting, it’s a good time to ask.
5. Elementary. Here, with a psychologist’s decoding, are 9 ways to think like Sherlock Holmes.
6. A “social networking” stock is up 25,000% in a few days, and it’s not even clear if the company exists. Myles Udland has the details.
7. Early indications from Indonesia are that Joko Widodo, or “Jokowi” as he’s known, is on track to win the Presidency in the world’s largest Muslim country. The standing president, Susilo Bambang Yudhoyono, has cautioned both Jokowi and his opponent, former military general Prabowo Subianto, against claiming victory or celebrating in any way. From an investor’s perspective, Jokowi is seen as a preferred candidate and if he doesn’t win a lot of money could be pulled out of the country. It may take days or even weeks before the result is certain.
8. How to win a modelling contract. 1) Be pretty. 2) Go viral by being snapped in your national team’s colours at the World Cup. 3) Set up your own fan page and wait for L’Oreal to call. It worked for 17-year-old Axelle Despiegelaere, who’s now shot a promotional video for the cosmetics giant before the Cup has even been won. Oh, and 4) Best delete those pics of you hunting wild animals in Africa.
9. Oh look, the Queenslanders ran out of jokes. (Skip this item if you’re not from NSW or Queensland.) I’ve written in depth about how State of Origin makes normally civilised people lose their minds, sense of humour, personality, taste, and talent. Exhibit Z, your honor: Today’s Courier Mail front page.
— Christopher Dore (@wrongdorey) July 9, 2014
10. Media jokes are now banned from this column. That is all.
Bonus item: There are Seinfeld emojis! Life stays exactly the same as it always was, but there are now cartoon pictures of people you know from TV on your phone. (Via @SarahHarris)
Have a cracking day. I’m on Twitter: @colgo
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.