Amazon and Google, two of the world’s top ten biggest listed companies, jumped around 4% in the aftermarket on the back of above-market quarterly revenue numbers released overnight; they showed organic growth of 23% and 22% respectively.
Treasurer Scott Morrison says the Federal Budget will separate debt into recurrent and capital by key spending areas. It’s not about satisfying ratings agencies, but about creating a spending discipline within government.
Amazon is coming and Australian retailers need to prepare themselves. Morgan Stanley says online sellers and shopping mall could feel the strain in the coming years, but Ruslan Kogan is enthusiastic about their arrival.
Meanwhile RBC Capital Markets forecasts less up and down in gold prices with a fixed price long term view. And Annette Beacher from TD Securities has some worries about debt levels following this week’s CPI data.
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