On today's Market Watch, we spoke to Ben LeBrun, Market Analyst and Commentator at Options Express in Sydney:
(1) In Australia, investors had plenty of earnings reports to chew on yesterday, with Commonwealth Bank, Westfield, Fortescue and Reject Shop among the many companies reporting. Ben tells us his read on some of the results, and why ordering a pizza from your smartphone caused quite a sensation yesterday.
(2) More to chew on today, with Qantas, Wesfarmers and Westpac among the blue chips reporting earnings. He talks about his expectations for the results.
(3) The big four banks (Commonwealth Bank, ANZ Bank, Westpac and National Australia Bank) announced they were raising their rates, despite the Reserve Bank leaving the official rate unchanged last week. Ben says this probably won't have a huge effect in terms of the RBAs move on interest rates and that there is still wide expectations in the market that they will cut again -- to the extent it's even being priced in the market.
(4) Jobs data due today, which will be crucial for the RBA to make up its mind on its next call on rates.
(5) Thousands of BHP Biliton workers are staging Australia's biggest industrial action in more than a decade. He says if production falls, its likely to take a chunk out of BHP's earnings.
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