Financial Advice Flag Bearer, US Hit Record Highs
I think we all forget how good the Olympics are and now with multiple free to air channels and the app, they are making the broadcast and coverage better than ever. And no despite the cartoon above I am not in Rio but thanks to adviserratings.com.au for the above picture. Earlier in the year I won the most influential person in financial services earlier which allowed me the flag bearer honor and am continuing to be an ambassador of financial advice.
To the Australian athlete’s and support crews in Rio, you have given Australians a proud showing so far with some very special memories for all of us.
To the markets well the All Ordinaries Accumulation Index closed up 0.8% for the week as company reporting season got into full swing. The Telstra buy back a highlight as was the CBA profit, however the result educated us that for banks it is going to be harder for them to maintain these profits in low interest rate environments.
The Project interviewed me Tuesday week ago night after the decision on why the banks didn’t pass it all on to mortgage holders. Click here for the interview. House prices edged up in most capital cities in the wake of the latest interest rate cut from the RBA and auction clearance rates are approaching housing boom levels latest figures on the housing market show.
In the US, it was the first time since Dec. 31, 1999 that the S&P 500, Dow Jones industrial average and Nasdaq had closed at record highs on the same day (Thursday),. click here to read more This is despite analysts prediction that S&P500 companies income will contract 0.6% this quarter, which would mark the 6th consecutive quarter of declines. Germany’s economy expanded 0.4% in the second quarter, slowing from 0.7% expansion in the previous 3 quarters data.
Remember you can hear me every day on 3aw after 4pm, and I will take your calls on air every Thursday from 3.30pm on Tom Elliott’s Drive Program on 3AW 693 AM. If you missed the latest shows click here to listen to the highlights. Or if you wanted to see our you tube channel with recent TV appearances click here to view