logo
‘Exciting news': ASX 200 firmly in ‘record territory'

‘Exciting news': ASX 200 firmly in ‘record territory'

News.com.aua day ago

CommSec's Tom Piotrowski says the ASX 200 is "firmly in record territory" before the market opens on Wednesday.
"It's exciting news … the futures are pointing to an improvement of a little under point four of a per cent, which will have us firmly in record territory," Mr Piotrowski told Sky News Australia.
"It's a little bit at odds with the atmosphere more broadly where northern hemisphere stocks are concerned."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

G7 Summit will be a test of Albanese's diplomatic skill
G7 Summit will be a test of Albanese's diplomatic skill

AU Financial Review

timean hour ago

  • AU Financial Review

G7 Summit will be a test of Albanese's diplomatic skill

Donald Trump has thrown another curveball at the US-Australia alliance by launching a Pentagon review of the $368 billion AUKUS trilateral defence pact to determine whether it serves America's national economic and security interests. It's reasonable to question the motives behind the probe. Trump's 'America First Agenda' has already sparked a tariff war and destabilised the international rules-based order. Meanwhile, the president's transactional diplomacy, such as threatening to withdraw US troops from Ukraine and questioning the relevance of longstanding defence alliances, has cast a cloud over America's reliability as a credible security partner.

BTN Newsbreak 12/06/2025
BTN Newsbreak 12/06/2025

ABC News

timean hour ago

  • ABC News

BTN Newsbreak 12/06/2025

SUNSCREEN Every time we go outside, we're told to slap on sunscreen, but now it's been found some Aussie sunscreens might not protect us as well as advertised. Australia. The country of sun. Well. Maybe not at the moment. But when it is, we use sunscreen, and different sunscreens have different SPF ratings. That stands for sun protection factor. The higher the number, the better the protection. And consumer advocacy group Choice wanted to put that to the test. They just put 20 brands of sunscreen under the microscope and found that 16 of them weren't actually SPF50! That includes ones from Banana Boat, Woolworths, Neutrogena, even a couple from Cancer Council! And the worst of the worst was the priciest. When tested, this 75mill bottle from Ultra Violette that costs $52 returned an SPF rating of four. But don't freak out, this does not mean your sunscreen isn't working. Experts are urging some sunscreen is always better than none. And that the rating difference isn't as major as it seems. Some of the companies have disputed the claims, but some say they'll run further testing. And in the meantime, Choice is calling for Aussie product regulators to run their own testing as well to make sure you're not getting slip slop scammed. AUKUS Australia's biggest ever defence deal could be in trouble, after the US announced it was reviewing the AUKUS agreement. It's a massive security pact between Australia, the UK and the US that will see us getting nuclear-powered submarines. US defence officials say the review is to make sure it fits with President Trump's 'America First' policy. But Australian leaders say they're not worried and are confident the deal will still go ahead. AUSSIE MUSIC How much Aussie music do you listen to? Well, new research has found that while Aussie artists are doing pretty well on the world stage, it's not making the same impact back home. New research from Creative Australia found out lots of young music fans in Australia feel pride hearing home-grown tunes, and most even say they want to hear more of it, but only 1 in 3 actually seek out Aussie music. Streaming is the main way we listen to music, and some Aussie artists do clock up big number on the platforms, but only 8% of the top 10,000 streamed artists last year were Aussie, and more than half were from the US. While a lot of people like their algorithms, some people reckon there should be a dedicated service for Aussie music. FAKE SKIN First up, to humanoid robots, who might be getting a bit of an upgrade in the dermatological department! That's skin, by the way. Scientists in the UK say they've managed to make a new type of synthetic skin, which can feel hot, cold, the touch of a hand, and best of all, it's cheaper and easier to make than other types of fake skin! It's made out of a gelatine based hydrogel, which they've connected to a bunch of electrodes, allowing it to send information back to a computer. OLD LADY BIKE RIDE Let's stay in the UK for a sec, because Jenna here is celebrating her 107th birthday! For her birthday, she wanted to do something she's never done before. Ride on a motorcycle. Zooming around town at blazing fast speeds of approximately the speed limit. EXCAVATOR RUN And finally, to a high-speed chase in the US state of South Carolina. Nope, that's not slow motion. This is perhaps the slowest police chase you'll ever see. The man driving the excavator was being chased down, after reports that a building had been badly damaged by the excavator's claw bucket. Police say the chase reached speeds of 5 kays per hour! That's about as fast as you walk. Despite its leisurely pace, the pursuit went on for an hour and 12 minutes, until the excavator got stuck and the driver, arrested.

Inflation, interest rates; Westpac predicts a rate hold
Inflation, interest rates; Westpac predicts a rate hold

The Australian

timean hour ago

  • The Australian

Inflation, interest rates; Westpac predicts a rate hold

Westpac says the Reserve Bank of Australia will keep rates on hold when they next meet in July, despite weak consumer spending and falling economic growth. The big four bank has bucked money markets predictions, which are currently factoring in an 84 per cent chance of a rate cut in July, saying the RBA will be 'cautious and predictable'. Westpac chief economist Luci Ellis, a former assistant RBA governor, expects just two more rate cuts this year, coming in August and November, saying the market is getting ahead of itself. 'The (RBA) board described itself as having a preference to move cautiously and predictably,' she wrote in an economic note. 'This is code for not wanting to do back-to-back cuts. 'It also made it clear in the minutes that this was about reducing restrictiveness, not moving quickly back to neutral in the style of the Federal Reserve last year.' Westpac believes interest rates will be kept on hold this July. Picture: NewsWire / Nicholas Eagar While homeowners may need to wait, Ms Ellis agrees with the majority of the market that interest rates eventually will fall below 3 per cent. To get to this point, Ms Ellis expects rate cuts will come in February and May 2026, though the central bank might also move in December should more Australians lose their jobs. According to the economist, the RBA will look to keep inflation under control over trying to give the economy a quick jump. 'Nothing that has happened since (the May meeting), including a disappointing GDP number, has been enough to tip the RBA into changing its mind in the near term,' Ms Ellis said. These figures released earlier in the month, showed GDP growth for the March quarter came in at just 0.2 per cent, lower than market forecasts. In May the RBA reduced Australia's GDP forecasts for the 2025 calendar year from 2.4 per cent to 2.1 per cent. Westpac economist Luci Ellis believes weak GDP figures will not be enough to sway the RBA. Picture: NewsWire, Monique Harmer But AMP deputy chief economist Diana Mousina disagrees, saying the weaker than expected GDP figures will see the Reserve Bank cut rates. 'The weakness in the March quarter GDP data pushed us to now expect another 0.25 per cent rate cut in July (as well as August, November and February 2026),' she previously wrote in an economic note. 'This is similar to market pricing at the moment.' Commonwealth Bank senior economist Belinda Allen also believes there could be a rate cut in July, if economic data comes in lower than the RBA forecasts. 'The progression of consumer spending data will be a key focus for the RBA ahead of the 8 July rate decision,' she said. 'The balance of probabilities continues to shift towards a July rate cut (our base case remains August) but will depend on upcoming data flow including the May monthly CPI and labour market data.' Weak consumer spending has been a drag on the economy. Picture: NewsWire / John Appleyard In a silver lining for households, Ms Ellis believes May's jobs data coming out next week will show the current jobs market is tighter than the RBA's view of full employment, meaning more Aussies will have a job. Ms Ellis said looking longer term, the case for multiple rate cuts is building as inflation shifts in the face of slower population growth and shakier private sector demand. 'Recent data has made it clear that population growth is unwinding a bit faster than previously thought,' she said. 'We have assessed that this is enough to have implications for housing costs, particularly rents. 'Over time, this puts a little more downside into measures of underlying inflation. We are also seeing a bit more downside in some parts of services inflation.' Read related topics: Westpac

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store