Money News

A steady unemployment rate was expected, but with work shifting away from the government sector, it could be up to the RBA to cut interest rates to stimulate private business.

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Jim Chalmers outlines his tax reform vision for the second term of the Labor government; the business of sport attracts even more money; Amazon’s boss fires a warning shot at white collar workers; uranium stocks get a boost; preparing for EOFY sales; ‘skinfluencers’ rise in popularity; and Grady Wulff joins us for the Market Wrap.

Host: Deborah Knight

Executive Producer: Tom Storey

Assistant Producer: Karl Bianco

Technical Producer: Simon Owens

Publisher: Nine Radio

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As End of Financial Year sales approach, should we be looking at this as an opportunity to spend, or is it a trap?!

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Sports are a big business in Australia, but with a new team coming to Tasmania, will the spending give the economy a boost?

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Uranium stocks have benefited from increased demand for the nuclear energy push around the world.

• ASX200: down 0.12% to 8,531
• GOLD: $3,384 US/oz
• BITCOIN: $161,708

• Boss Energy met its first-year production guidance, shares gained another 4.3% on the news to $4.66
• Deep Yellow up almost 4%, Bannerman rising 4.8%
• Iron ore futures slid to $92 US a tonne, which hurt our big miners.
• BHP traded 1.2% lower, Fortescue fell 4%, while Rio Tinto lost 1.1%.
• While down over 1% were ANZ, Origin Energy, and Qantas
• Cochlear pushed 0.8% higher to $283.78

• AUD/USD: 65 US cents
• AUD/GBP: 48.3 Pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 94 Yen
• AUD/NZD: 1.08 NZ dollars

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The market is still flooded with uncertainty, with no wild swings up or down this week, but good news on the uranium front has helped a couple of companies really outperform the rest of the ASX.

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Australians will spend $1.1 billion on the outlay for their football teams in the annual State of Origin contest.

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Droneshield’s share price has exploded so far this year, so does the threat of war help their outlook?

MARKET WRAP:

• ASX200: down 0.08%, 8541
• GOLD: $3,395 US/ounce
• BITCOIN: $162,400 AUD
• Santos edged marginally higher to $7.76 despite Federal Treasurer Jim Chalmers warning a $30 billion takeover deal from a UAE based group “has got a long way to run yet”.
• Gold miners Newmont rose 2.5% and Northern Star rose by 1.5%
• Uranium stocks were up again, with Deep Yellow up 5.7% and Boss Energy rising more than 3%
• Life360 was more than 1% higher after a broker upgrade.
• Pro Medicus dropped just under 1% to $272 a share, while Cochlear dropped 1.6% to $281.66. 
• Genesis Minerals also fell more than 2% to $4.67
• James Hardie fell 2.9% to $38.77.

CURRENCY UPDATE:

• AUD/USD: 65.3
• AUD/GBP: 48.2 pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 94 yen
• AUD/NZD: 1.07 Dollars

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With conflict escalating in the Middle East, could we see a repeat of 2022’s global inflation wave as the oil price rises?

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Escalating conflict in the Middle East puts oil prices again in the headlines; Donald Trump’s new phone; Australia Post delivers new parcel depots; changes for small businesses on the radar for July 1; Australians spend up big on the State of Origin; and Evan Lucas joins us for the Market Wrap

Host: Scott Haywood

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

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