Investors expect rebound in mining earnings to keep ASX at record
Investors are expecting an uptick in earnings growth at the country's biggest miners, which they say will justify the ASX's near-record levels despite broader uncertainty brought on by the Trump administration's tariff plans.
The S&P/ASX 200 is up almost 9 per cent over 12 months, despite little earnings growth. That has stretched valuations, and left expensive stocks open to a slump if economic indicators point towards weakness.
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West Australian
2 hours ago
- West Australian
Vance downplays row between Trump, 'emotional guy' Musk
US Vice President JD Vance says Elon Musk was making a "huge mistake" going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in a podcast interview released after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and "crazy" and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centrepiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with paedophile Jeffrey Epstein. "Look, it happens to everybody," Vance said in the interview with comedian Theo Von. "I've flown off the handle way worse than Elon Musk did in the last 24 hours." Vance told Von that as Musk for days was calling on social media for the US Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk". "I actually think if Elon chilled out a little bit, everything would be fine," he added. Musk had by Saturday morning deleted his X posts about Trump and Epstein. The interview was recording on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein". "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance called Musk an "incredible entrepreneur" and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good". The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination". "It's a good bill," Vance said. "It's not a perfect bill."
Perth Now
2 hours ago
- Perth Now
Vance downplays row between Trump, 'emotional guy' Musk
US Vice President JD Vance says Elon Musk was making a "huge mistake" going after President Donald Trump in a storm of bitter and inflammatory social media posts after a falling out between the two men. But the vice president, in a podcast interview released after the very public blow up between the world's richest man and arguably the world's most powerful, also tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear," Vance said. Vance's comments come as other Republicans in recent days have urged the two men, who months ago were close allies spending significant time together, to mend fences. Musk's torrent of social media posts attacking Trump came as the president portrayed him as disgruntled and "crazy" and threatened to cut the government contracts held by his businesses. Musk, who runs electric vehicle maker Tesla, internet company Starlink and rocket company SpaceX, lambasted Trump's centrepiece tax cuts and spending bill but also suggested Trump should be impeached and claimed without evidence that the government was concealing information about the president's association with paedophile Jeffrey Epstein. "Look, it happens to everybody," Vance said in the interview with comedian Theo Von. "I've flown off the handle way worse than Elon Musk did in the last 24 hours." Vance told Von that as Musk for days was calling on social media for the US Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk". "I actually think if Elon chilled out a little bit, everything would be fine," he added. Musk had by Saturday morning deleted his X posts about Trump and Epstein. The interview was recording on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein". "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job." Vance called Musk an "incredible entrepreneur" and said that Musk's Department of Government Efficiency, which sought to cut government spending and laid off or pushed out thousands of workers, was "really good". The vice president also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. Musk has warned that the bill will increase the federal deficit and called it a "disgusting abomination". "It's a good bill," Vance said. "It's not a perfect bill."
News.com.au
10 hours ago
- News.com.au
What the Trump-Musk Feud Means for SpaceX and NASA
The U.S. government relies on SpaceX to support NASA and other agencies, and the company has received more $20 billion in federal contracts for it. As Musk and Trump threaten to cut ties, here's what that would mean for the U.S.'s space ambitions.
