Markets live updates: Shares keep rising as US sees record trade deficit ahead of Liberation Day tariffs
The effect of his tariff plan on the US economy was highlighted by a record trade deficit in March, as American importers raced to bring in goods ahead of the Liberation Day announcement.
Follow the day's financial news and insights from our specialist business reporters on our live blog.
Disclaimer: this blog is not intended as investment advice.
Key Events
10m ago
10 minutes ago
Tue 29 Apr 2025 at 9:31pm
27m ago
27 minutes ago
Tue 29 Apr 2025 at 9:15pm
Submit a comment or question
Log in to comment
Live updates
Latest
Oldest
Key Event
10m ago
Tue 29 Apr 2025 at 9:31pm
US posts record trade deficit ahead of Liberation Day
M
By Michael Janda
Highlighting the profound effect Donald Trump's tariffs are having on the economy, even before they took effect, the
US posted its biggest ever trade deficit in March, at $US162 billion
($253 billion).
The result was driven by
a record $US342.7 billion
($536.7 billion)
of imports
, as businesses raced to bring in goods ahead of Liberation Day — Donald Trump's tariff announcement on April 2.
Many will be glad they did, with a blanket 10% minimum tariff on virtually all imports, 25% on many specific goods and tariffs ultimately up to 145% on Chinese goods implemented.
Reuters
is reporting that:
"The report from the Commerce Department's Census Bureau prompted economists to sharply downgrade their GDP estimates for last quarter to show a steeper decline rather than growth just stalling.
"
Goldman Sachs now sees GDP contracting at a 0.8% annualised rate while JPMorgan forecasts output declining at a 1.75% pace
.
"The economy grew at a 2.4% rate in the fourth quarter."
The US government is expected to release its first estimate for March quarter GDP overnight (Australian time).
Key Event
27m ago
Tue 29 Apr 2025 at 9:15pm
Markets set for further steady gains
M
By Michael Janda
Good morning and welcome to another day on the markets.
Since the last time I was running the blog a few weeks back, things have become much quieter.
There seems to be a prevailing view that the Trump administration is giving ground on tariffs and will ultimately back down on most of them.
As my colleague
Dan Ziffer
pointed out on the blog yesterday, US magazine
If you didn't have time yesterday, I'd strongly urge you to have a read — it's very revealing of the thinking (or some may argue lack thereof) of the world's most powerful man.
However, markets have recovered from their Liberation Day and subsequent losses, and that continued overnight.
The benchmark S
&
P 500 index on Wall Street closed up 0.6% to 5,561 points, as did the tech heavy Nasdaq to 17,461 points.
It seems like 0.6 was a popular number, with the
FTSE gaining that percentage to 8,463 points and Germany's DAX outperforming ever so slightly, up 0.7%
.
The
Eurostoxx index was up 0.4%
.
ASX 200 futures are up 0.3% to 8,112
, pointing to modest gains at the local open.
Westpac's Imre Speizer
said the buying was not super enthusiastic.
"Sentiment remained mixed among asset classes, reflecting mixed views on the outcome of the US' trade policy," he wrote.
"Bond yields fell further and equities rose further, while the
US dollar is slightly higher
."
Despite the rising US dollar, the
Aussie held firm at 63.83 US cents
.
Commodities markets agreed with the bond traders that US and global growth is likely to slow, with
oil, copper and iron ore all
modestly lower.
It may not look like such a wild ride, but stay with me and my colleagues as we keep you up to date with today's market action.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
3 hours ago
- The Advertiser
AI training pilot to upskill more than 30,000 teachers
More than 30,000 teachers could be trained in the use of artificial intelligence technology as part of a year-long trial spearheaded by US tech giant Microsoft and Australia's Future Skills Organisation. The firms will announce the pilot program in Canberra on Wednesday in collaboration with 13 industry and education partners, and in a move designed to promote wider adoption of AI technology. The plan to boost Australia's AI use comes a day after the Productivity Commission recommended schools deploy the technology for both teachers and students, and after it named AI adoption as one of its priorities for the year. Artificial intelligence technology is also expected to be a major focus at the federal government's Economic Reform Roundtable next week. The Future Skills Organisation's pilot program, called Skills Accelerator AI, is designed to reach more than 30,000 vocational education and training staff, as well as the students they teach. Equipping educators with AI tools and teaching them how to use them would be vital to boosting productivity and creating new industries, Future Skills Organisation chief executive Patrick Kidd said. "We did some research across the finance, tech and business sectors and found that more than 60 per cent of people are using AI but less than 30 per cent have been trained in it," he told AAP. "(AI is) happening, it's here, now we need to make sure that we're starting to put some shape around it so that we're doing it responsibly, safely and effectively." The training program will include access to a wide range of AI tools, he said, as well as mentors and examples of effective AI use from industry partners. Groups involved in the program include TAFE in Queensland and South Australia, the Swinburne University of Technology, the Commonwealth Bank, Business NSW, and the National AI Centre. Targeting teachers in the first phase of the pilot would help to spread AI education widely, Microsoft Asia small and medium enterprise corporate vice-president Rachel Bondi said, and to encourage its responsible use. "(AI is) reshaping every job and we have to make the training available to all roles and all jobs and not just in certain sectors that may have received that type of training before," she said. "We're hoping that this collaboration of everybody coming together is really going to pave a way for a national approach." Federal Skills and Training Minister Andrew Giles said he hoped the partnership would help to create "practical, scalable training" for Australian workers. In a report issued before the government's economic roundtable, the Productivity Commission recommended state and territory governments train teachers in the use of AI technology and that schools use the tools to assist students and teachers. AI technology is expected to be a major focus at the three-day event in Canberra after the Tech Council predicted it could add $115 billion a year to Australia's economy by 2030. More than 30,000 teachers could be trained in the use of artificial intelligence technology as part of a year-long trial spearheaded by US tech giant Microsoft and Australia's Future Skills Organisation. The firms will announce the pilot program in Canberra on Wednesday in collaboration with 13 industry and education partners, and in a move designed to promote wider adoption of AI technology. The plan to boost Australia's AI use comes a day after the Productivity Commission recommended schools deploy the technology for both teachers and students, and after it named AI adoption as one of its priorities for the year. Artificial intelligence technology is also expected to be a major focus at the federal government's Economic Reform Roundtable next week. The Future Skills Organisation's pilot program, called Skills Accelerator AI, is designed to reach more than 30,000 vocational education and training staff, as well as the students they teach. Equipping educators with AI tools and teaching them how to use them would be vital to boosting productivity and creating new industries, Future Skills Organisation chief executive Patrick Kidd said. "We did some research across the finance, tech and business sectors and found that more than 60 per cent of people are using AI but less than 30 per cent have been trained in it," he told AAP. "(AI is) happening, it's here, now we need to make sure that we're starting to put some shape around it so that we're doing it responsibly, safely and effectively." The training program will include access to a wide range of AI tools, he said, as well as mentors and examples of effective AI use from industry partners. Groups involved in the program include TAFE in Queensland and South Australia, the Swinburne University of Technology, the Commonwealth Bank, Business NSW, and the National AI Centre. Targeting teachers in the first phase of the pilot would help to spread AI education widely, Microsoft Asia small and medium enterprise corporate vice-president Rachel Bondi said, and to encourage its responsible use. "(AI is) reshaping every job and we have to make the training available to all roles and all jobs and not just in certain sectors that may have received that type of training before," she said. "We're hoping that this collaboration of everybody coming together is really going to pave a way for a national approach." Federal Skills and Training Minister Andrew Giles said he hoped the partnership would help to create "practical, scalable training" for Australian workers. In a report issued before the government's economic roundtable, the Productivity Commission recommended state and territory governments train teachers in the use of AI technology and that schools use the tools to assist students and teachers. AI technology is expected to be a major focus at the three-day event in Canberra after the Tech Council predicted it could add $115 billion a year to Australia's economy by 2030. More than 30,000 teachers could be trained in the use of artificial intelligence technology as part of a year-long trial spearheaded by US tech giant Microsoft and Australia's Future Skills Organisation. The firms will announce the pilot program in Canberra on Wednesday in collaboration with 13 industry and education partners, and in a move designed to promote wider adoption of AI technology. The plan to boost Australia's AI use comes a day after the Productivity Commission recommended schools deploy the technology for both teachers and students, and after it named AI adoption as one of its priorities for the year. Artificial intelligence technology is also expected to be a major focus at the federal government's Economic Reform Roundtable next week. The Future Skills Organisation's pilot program, called Skills Accelerator AI, is designed to reach more than 30,000 vocational education and training staff, as well as the students they teach. Equipping educators with AI tools and teaching them how to use them would be vital to boosting productivity and creating new industries, Future Skills Organisation chief executive Patrick Kidd said. "We did some research across the finance, tech and business sectors and found that more than 60 per cent of people are using AI but less than 30 per cent have been trained in it," he told AAP. "(AI is) happening, it's here, now we need to make sure that we're starting to put some shape around it so that we're doing it responsibly, safely and effectively." The training program will include access to a wide range of AI tools, he said, as well as mentors and examples of effective AI use from industry partners. Groups involved in the program include TAFE in Queensland and South Australia, the Swinburne University of Technology, the Commonwealth Bank, Business NSW, and the National AI Centre. Targeting teachers in the first phase of the pilot would help to spread AI education widely, Microsoft Asia small and medium enterprise corporate vice-president Rachel Bondi said, and to encourage its responsible use. "(AI is) reshaping every job and we have to make the training available to all roles and all jobs and not just in certain sectors that may have received that type of training before," she said. "We're hoping that this collaboration of everybody coming together is really going to pave a way for a national approach." Federal Skills and Training Minister Andrew Giles said he hoped the partnership would help to create "practical, scalable training" for Australian workers. In a report issued before the government's economic roundtable, the Productivity Commission recommended state and territory governments train teachers in the use of AI technology and that schools use the tools to assist students and teachers. AI technology is expected to be a major focus at the three-day event in Canberra after the Tech Council predicted it could add $115 billion a year to Australia's economy by 2030. More than 30,000 teachers could be trained in the use of artificial intelligence technology as part of a year-long trial spearheaded by US tech giant Microsoft and Australia's Future Skills Organisation. The firms will announce the pilot program in Canberra on Wednesday in collaboration with 13 industry and education partners, and in a move designed to promote wider adoption of AI technology. The plan to boost Australia's AI use comes a day after the Productivity Commission recommended schools deploy the technology for both teachers and students, and after it named AI adoption as one of its priorities for the year. Artificial intelligence technology is also expected to be a major focus at the federal government's Economic Reform Roundtable next week. The Future Skills Organisation's pilot program, called Skills Accelerator AI, is designed to reach more than 30,000 vocational education and training staff, as well as the students they teach. Equipping educators with AI tools and teaching them how to use them would be vital to boosting productivity and creating new industries, Future Skills Organisation chief executive Patrick Kidd said. "We did some research across the finance, tech and business sectors and found that more than 60 per cent of people are using AI but less than 30 per cent have been trained in it," he told AAP. "(AI is) happening, it's here, now we need to make sure that we're starting to put some shape around it so that we're doing it responsibly, safely and effectively." The training program will include access to a wide range of AI tools, he said, as well as mentors and examples of effective AI use from industry partners. Groups involved in the program include TAFE in Queensland and South Australia, the Swinburne University of Technology, the Commonwealth Bank, Business NSW, and the National AI Centre. Targeting teachers in the first phase of the pilot would help to spread AI education widely, Microsoft Asia small and medium enterprise corporate vice-president Rachel Bondi said, and to encourage its responsible use. "(AI is) reshaping every job and we have to make the training available to all roles and all jobs and not just in certain sectors that may have received that type of training before," she said. "We're hoping that this collaboration of everybody coming together is really going to pave a way for a national approach." Federal Skills and Training Minister Andrew Giles said he hoped the partnership would help to create "practical, scalable training" for Australian workers. In a report issued before the government's economic roundtable, the Productivity Commission recommended state and territory governments train teachers in the use of AI technology and that schools use the tools to assist students and teachers. AI technology is expected to be a major focus at the three-day event in Canberra after the Tech Council predicted it could add $115 billion a year to Australia's economy by 2030.
Perth Now
4 hours ago
- Perth Now
‘Boycott': Aussies fume over Netflix's latest price hikes
Aussie Netflix users have been quick to call out the streaming giant following its sixth price increase since entering the Australian market in 2015. On Wednesday, the platform announced all subscription tiers would be impacted as early as September this year. Understandably, it's not been met with open arms by users already impacted by the cost-of-living pinch. Taking to social media, users even threatened to 'cancel' their subscriptions as they vented their frustrations. 'Greedy company. Raising prices multiple times per year will only push more ships into the sea,' one person said. 'Boycott Netflix. Raising prices again...,' another added. Aussies react to Netflix price rises. Credit: Supplied In response to the promotion of the Netflix original film My Oxford Year, other Netflix subscribers argued the quality of content available for streaming didn't warrant the uptick in price. 'Worst content on your platform in history losing so many shows and you think you need a price increase 😂,' one user said. 'Another price increase? Cancel time,' another chimed in. Subscribers on Netflix's two standard plans will be forced to part with an extra $2 every month, with the 'standard with ads' option shifting from $7.99 to $9.99, and the ad-free Standard plan now set at $20.99 monthly. Prince Harry and Meghan Markle have become regular features on Netflix. Credit: Netflix / Netflix Premium subscribers are looking at the steepest leap, with a $3 rise, taking the plan from $25.99 to $28.99. According to tech site Tom's Guide, Netflix's initial prices for Australian users were $8.99 monthly for a basic ad-free plan and $14.99 for premium access, making today's Premium option nearly double the cost. Netflix said the higher prices would allow them 'to bring you even more exciting, new entertainment', promising 'fresh, can't-miss shows and movies every week'. Netflix (inclusive of price updates) $9.99/month - inclusive of ads $20.99/month - Standard ad-free $28.99/month - Premium ad-free Amazon Prime $9.99/month — inclusive of ads $12.98/month — ad-free Stan $12/month — Basic ad-free $17/month — Standard ad-free $22/month — Premium ad-free Apple TV+ $12.99/month — ad-free Disney+ $15.99/month — Standard inclusive of ads $20.99/month — Premium ad-free Binge $10/month — Basic inclusive of ads $19/month — Standard ad-free $22/month — Premium ad-free Paramount+ $6.99/month — Basic inclusive of ads $10.99/month — Standard ad-free $13.99/month — Premium ad-free Australian streaming platform prices compared. Credit: Supplied
AU Financial Review
5 hours ago
- AU Financial Review
The $1.1b bet on fuel's cheap-and-cheerful future
If there's one thing fuel group Ampol didn't lack, it's scale. Now it is buying more after it agreed to acquire EG Group's Australian service station portfolio for $1.1 billion, Is it a good thing? We're normally harsh on acquisitions. Too often they torch shareholders' capital, particularly when it comes to steady, old Australian companies chasing elusive growth (Aurizon, Orora, Boral, Telstra, BHP, Link Market Services etc).
