Finance news you need to know today

US STOCKS have surged to a record high, while Apple became the first US company to close with a market capitalisation above $US800 billion.

HERE are five things making news in business and finance today.

1. SYDNEY — The Australian market looks set to open solidly higher the morning after federal treasurer Scott Morrision handed down the budget. At 0700 AEST on Wednesday, the share price futures index was up 19 points, or 0.33 per cent, at 5,845.

2. SYDNEY — Meanwhile, the Australian dollar is slightly higher against its US counterpart, having retraced lost ground following the handing down of the federal budget on Tuesday. The local currency was trading at 73.42 US cents at 0700 AEST on Wednesday, from 73.39 on Tuesday.

3. NEW YORK — The S&P 500 has fallen after edging up to an intraday record high for the second straight session, while Apple became the first US company to close with a market capitalisation above $800 billion.

4. WASHINGTON — US president Donald Trump will not make a decision on whether to pull the United States out of the Paris climate agreement until after he returns from this month’s Group of Seven summit, the White House has said.

5. SPOKANE — A tunnel has partly collapsed a plutonium-handling facility at the Hanford Nuclear Reservation in Washington state, but there was no indication workers or the public were exposed to radiation, federal officials said.