Money News

Countries will have until August 1st before the US introduces their new tariffs, economists expect a consecutive rate drop tomorrow from the RBA, Could the winter holidays be the best time to teach your kids about money and finance?

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Donald Trump to start sending out letters, with not all trade deals to get done by the July 9 deadline. 

PM Albanese sets out his next three years of economic hopes and wishes.

And the ASX finishes the week in uncharted waters.

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Hosted by: Tom Storey

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ASIC warns super customers around pushy sales tactics; GemLife hits the ASX as the next big IPO; class action launched against AMP Superannuation; meat prices in restaurants not flowing through to beef producers; Tony Sycamore joins us for the Market Wrap; and Deb Knight hosts her final edition of Money News

Host: Scott Haywood

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

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While the price of a good steak can climb up to $350 in top restaurants, only a sliver of that actually makes its way to farmers.

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US rates could be cut sooner than expected, depending on results out of the Non-Farm Payrolls this week.

MARKET WRAP:

• ASX200: down 0.02%, 8595
• GOLD: $3,356 US/ounce
• BITCOIN: $166,513 AUD
• Pro Medicus climbed 7.8% to $307.39 after announcing two contracts in the United States worth more than $200 million in total.
• BHP jumped 5.6%, Mineral Resources closed 7.8% higher, with Fortescue & Rio Tinto up 1.8%.
• Up more than 1% was Wisetech Global, James Hardie and Bluescope Steel.
• G8 fell 7.4% for its third day of losses in a row after one of its former employees was charged with offences related to the alleged abuse of children. 
• Commbank down 2.2%, NAB off 1.1%, and Westpac down 0.7%. ANZ escaped the losses, up half a percent.
• JB Hi-Fi down 3%, Harvey Norman off 1.5%, and Myer losing 1.6%.

CURRENCY UPDATE:

• AUD/USD: 64.8 US cents
• AUD/GBP: 48.1 pence
• AUD/EUR: 55 Euro cents
• AUD/JPY: 94 yen
• AUD/NZD: 1.08 Dollars

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ASIC is warning consumers to be aware of pushy sales tactics that offer superannuation deals that are too good to be true.

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The ASX dropped, then fought back, as a big player in retirement living stretched its legs on the ASX.

This will be Deb Knight's last edition of the Market Wrap podcast, with Scott Haywood and Evan Lucas to pick up hosting duties in the weeks to come. The team at Money News wish her all the best for the future!

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The ASX reaches another all time record high close; Australians suffering from ‘blind spots’ on their financial affairs; the One Big Beautiful Bill Act passes US Senate; super funds outpace the Australian share markets; retail sales give hint to rate cuts; Qantas suffers cyber attack; the banks team up for a new processing system; and Grady Wulff joins us for the Market Wrap.

Host: Deborah Knight

Executive Producer: Tom Storey

Technical Producer: Francis Fuller

Publisher: Nine Radio

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The banks have teamed up to help cybersecurity concerns, with $100 million invested into a new “Confirmation of Payee” system.

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Domino’s is on the hunt for a new CEO, with the pandemic darling seeing its share price plunge again today.

• ASX200: up 0.66% to 8,597
• GOLD: $3,335 US/oz
• BITCOIN: $164,003

• James Hardie’s completion of its US$8.4 billion deal for Azek helped it 5.3% higher to $42.93.
• The hope for rate cuts helped Real Estate stocks, with Goodman rising 2.1%, Scentre up 2.7%, and Dexus rising 3.1%.
• BHP up 1.7%, Fortescue rising 3.8% and Rio Tinto up just over 2%.
• Dominos Pizza shares closed down more than 15% to $16.96 after its CEO resigned
• Helia told the market that ING was negotiating with other providers – down 21% to $4.31.
• Qantas revealed a cyberattack had stolen the personal data for 6 million customers, with shares closing 2.2% lower to $10.52.
• Also weaker were QBE, Xero and Next DC.

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