US interest rates on hold despite Trump demands to cut
There's more evidence that Donald Trump's campaign of tariffs is clouding the economic outlook in the United States.
The US Federal Reserve has once again defied Mr Trump by not cutting interest rates worried the tariffs war could stoke inflation and hurt the US labour market at the same time.
Also National Australia Bank CEO Andrew Irvine warns expected rate cuts in Australia risk stoking house prices.
Analysis by the ABC's Peter Ryan.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
29 minutes ago
- News.com.au
ASX 200 surges to ‘highest point in history' on Tuesday
Sky News Business Editor Ross Greenwood says the ASX 200 today closed at its 'highest point in history' – up 0.84 per cent. 'I should note the highest intraday level – 8560 – was back on Valentine's Day in February,' Mr Greenwood said.
News.com.au
29 minutes ago
- News.com.au
Closing Bell: ASX surges 0.84pc to record close, pushed higher by tech and banking stocks
ASX sets new record close at 8587.2 points, breaking February 2025 heights 10 of 11 sectors on the up, with only Industrials dragging (-0.08pc) All Tech and 200 Banks indices add more than 1pc each It's been a convincing day of gains on the ASX, coming straight from a trading break over the long weekend. The bourse had added 0.75% by midday and had nary a wobble through the day, climbing up 0.84% by the end of trade to set a new record high close at 8587.2 points. That beats the previous record set in February of 8555 points, and places the ASX just 0.33% from its 52-week trading high. Consumer discretionary led sector gains up 1.82% while industrials was the only sector to dip, losing just 0.08%. Standout stocks in the discretionary sector included Aristocrat Leisure (ASX:ALL), up 3.63%, JB Hi-Fi (ASX:JBH) + 2.05%, Light & Wonder (ASX:LNW) +3.54% and Tabcorp (ASX:TAH) +5.71%. Looking at the ASX indices, technology and the major 7 banking stocks generated the most momentum, climbing 1.6% and 1.18% respectively to outweigh the All Ords Gold index's 1.74% drop. Gold stocks were hit by an index shift from VanEck for its main GDX ETF, which from September will use a different index without exposure to Aussie mid-caps like Capricorn Metals (ASX:CMM) and Bellevue Gold (ASX:BGL), as well as less exposure to Newmont Corporation (ASX:NEM). Fineos Corporation (ASX:FCL) jumped 7.14%, NEXTDC (ASX:NXT) climbed 5.16% and WiseTech (ASX:WTC) added 2.34%. Six of the seven major banking stocks made gains, adding between 2.55% and 0.96%. The exception was QBE Insurance (ASX:QBE), which shed 0.13%. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap ICE Icetana Limited 0.027 69% 12304586 $7,010,282 OB1 Orbminco Limited 0.0015 50% 47000000 $3,197,568 EVR Ev Resources Ltd 0.007 40% 23212623 $9,929,183 FHS Freehill Mining Ltd. 0.007 40% 8889221 $16,167,639 VPR Voltgroupltd 0.185 37% 259531 $14,466,897 NH3 Nh3Cleanenergyltd 0.031 35% 3503572 $12,985,910 BP8 Bph Global Ltd 0.002 33% 14374262 $1,576,477 KTA Krakatoa Resources 0.013 30% 36335180 $6,201,340 LYK Lykosmetalslimited 0.022 29% 2335033 $4,002,556 FGH Foresta Group 0.009 29% 2022874 $18,570,345 POD Podium Minerals 0.038 27% 7439241 $20,442,318 M4M Macro Metals Limited 0.012 26% 5866959 $37,785,467 CZN Corazon Ltd 0.0025 25% 3172385 $2,369,145 FME Future Metals NL 0.02 25% 24062178 $11,500,810 MRD Mount Ridley Mines 0.0025 25% 277400 $1,556,978 TFL Tasfoods Ltd 0.005 25% 6916027 $1,748,382 VML Vital Metals Limited 0.0025 25% 8222869 $11,790,134 VRC Volt Resources Ltd 0.005 25% 979211 $18,739,112 YAR Yari Minerals Ltd 0.01 25% 5586811 $4,437,692 FCT Firstwave Cloud Tech 0.016 23% 4275923 $22,275,743 FRE Firebrickpharma 0.082 22% 272234 $15,046,622 LIT Livium Ltd 0.011 22% 24745143 $15,214,564 GAL Galileo Mining Ltd 0.14 22% 700822 $22,726,867 AUR Auris Minerals Ltd 0.006 20% 85000 $2,383,130 AZL Arizona Lithium Ltd 0.006 20% 7076621 $26,351,572 Making news… Security AI software company icetana AI (ASX:ICE) has locked in four agreements with SoftBank Robotics Group Corp and its subsidiaries with a total value of $3.6m. Softbank will become an exclusive distributor of icetana AI in Japan, committing to a minimum purchase agreement of US$450k on a recurring annual basis. The Singapore arm of Softbank Robotics will also take a 17.6% stake in icetana with an investment of $1.87m, and the two companies will work together to integrate ICE's AI analytics with Softbank's automation and security solutions via a $1.08m three-year joint product development program. Krakatoa Resources (ASX:KTA) is gearing up to drill 8000-10,000m at the Zopkhito antimony-gold project, targeting extensions to antimony veins and a gold-rich alteration halo to grow the existing resource (non-JORC) of 26,000 tonnes of antimony and just over 815,000oz of gold. A low-emissions ammonia bunkering deal with Pilbara Ports Authority and Oceania Marine Energy has marked a step toward delivering low-emission fuel markets at scale for NH3 Clean Energy (ASX:NH3). Under a joint development agreement, the three entities will work together to establish establishing ammonia bunkering at the Port of Dampier by 2030 to service iron ore carriers. Yari Minerals (ASX:YAR) has boosted the coal resource at the Rolleston South project by 91%, pegging the new MRE at 151Mt, up from 78.9Mt. Cloud technology firm FirstWave (ASX:FCT) is preparing to launch its products on Amazon's global market place after forming a strategic partnership with Amazon Web Services and US-based Corent Technology. FCT has bagged A$250k in funding in the deal, which forms part of its commercial strategy to monetise some 150,000 customers that already use FirstWave's free-tier software. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap LNR Lanthanein Resources 0.001 -33% 431800 $3,665,454 MOM Moab Minerals Ltd 0.001 -33% 1074372 $2,600,499 AOA Ausmon Resorces 0.0015 -25% 15000 $2,622,427 TKL Traka Resources 0.0015 -25% 265335 $4,251,580 GBZ GBM Rsources Ltd 0.006 -20% 6925104 $8,783,025 AAU Antilles Gold Ltd 0.004 -20% 7520029 $11,556,838 BIT Biotron Limited 0.002 -20% 222000 $3,318,115 ERL Empire Resources 0.004 -20% 532001 $7,419,566 JAV Javelin Minerals Ltd 0.002 -20% 36248702 $15,315,373 MEM Memphasys Ltd 0.004 -20% 75328 $9,917,991 PKO Peako Limited 0.002 -20% 23258963 $3,719,355 PRX Prodigy Gold NL 0.002 -20% 8029997 $7,937,639 RDS Redstone Resources 0.004 -20% 4133107 $5,171,337 TEM Tempest Minerals 0.004 -20% 1036232 $3,672,649 VFX Visionflex Group Ltd 0.002 -20% 3000000 $8,419,651 LKY Locksleyresources 0.085 -19% 18404826 $19,250,000 REZ Resourc & En Grp Ltd 0.013 -19% 737742 $10,746,226 BMH Baumart Holdings Ltd 0.009 -18% 55500 $1,792,726 AZI Altamin Limited 0.024 -17% 375302 $16,660,584 NGX Ngxlimited 0.12 -17% 1090 $13,138,717 AUK Aumake Limited 0.0025 -17% 33 $9,070,076 BLZ Blaze Minerals Ltd 0.0025 -17% 1000000 $4,700,843 FBR FBR Ltd 0.005 -17% 3319917 $34,136,713 GLL Galilee Energy Ltd 0.005 -17% 149000 $4,243,157 ICG Inca Minerals Ltd 0.005 -17% 1565696 $9,458,340 TRADING HALTS Aureka Ltd (ASX: AKA)  – cap raise Island Pharmaceuticals Ltd (ASX: ILA)  - pending announcement dorsaVi Ltd (ASX: DVL)  – pending licence agreement and cap raise Kinetiko Energy Ltd (ASX: KTE)  – cap raise McLaren Minerals Ltd (ASX: MML)  – cap raise SSH Group Ltd (ASX: SSH)  – cap raise Australian Critical Minerals (ASX: ACM)  – acquisition and cap raise Southern Palladium Ltd (ASX: SPD)  – cap raise Johns Lyng Group Ltd (ASX: JLG)  – potential change of control FOS Capital Ltd (ASX: FOS)  – acquisition and cap raise IN CASE YOU MISSED IT Pure Hydrogen (ASX:PH2) plans to spin-off its Windorah gas project into a new ASX-listed company have received a boost from the Queensland government. Elevate Uranium (ASX:EL8) has uncovered thick, shallow granite-hosted uranium, representing a new mineralisation style beyond the defined Marenica resource. Arika Resources (ASX:ARI) has identified 17 new targets using ultrafine soil geochemistry within the Mulga Plum – Jeedamya tenements, situated on the western side of Arika's Kookynie project area. Anson Resources (ASX:ASN) has revealed a maiden lithium carbonate equivalent resource estimate for the Green River lithium project in Utah of 103,000t, including 19,000t in the indicated category. One of Japan's top titanium producers has given their tick of approval to Sovereign Metals (ASX:SVM) rutile from the Kasiya project. Trigg Minerals' (ASX:TMG) initial field work at Antimony Canyon in Utah has confirmed both massive stibnite and the project's high-grade potential. Axel REE (ASX:AXL) has unearthed more high-grade gallium at Area B of the Caladão project in Brazil, demonstrating 'remarkable' mineralisation. Beneficiation test work at Astute Metals' (ASX:ASE) Red Mountain project in Nevada has produced lithium clay concentrate grades of up to 4,480 ppm, outlining a clear pathway to commercial production. Dubbed the Western, Central and Eastern trends, Argent Minerals' (ASX:ARD) VTEM survey has revealed extensive, distinct anomalies prospective for gold-silver-copper-lead-zinc mineralisation at the Kempfield project in NSW. Adisyn Ltd (ASX: AI1) has delivered a key ALD system to fast-track its graphene R&D, marking a major step toward commercialising next-gen chip materials for AI and 5G. Optiscan (ASX:OIL) has revealed a novel microscopic imaging device designed specifically for the veterinary medicine market segment. Hillgrove Resources (ASX:HGO) has notched up a set of new records for the Kanmantoo copper mine as the red metal sector heats up. Blue Star Helium's (ASX:BNL) State 9 well has flowed gas at the strongest rate to date as the transition to helium production begins. LAST ORDERS West Coast Silver (ASX:WCE) has reshuffled its board, inviting Bruce Garlick to fill the position of executive chair as outgoing executive chair Thomas Reddicliffe moves to a non-executive position.
The Advertiser
36 minutes ago
- The Advertiser
Google's robotaxis targeted in LA riots, services cancelled
Waymo was called on to suspend its robotaxi service – at least partially – after its vehicles were deliberately targeted in the Los Angeles riots over the weekend. Several driverless Jaguar I-Pace electric robotaxis from Waymo – worth around US$100,000 (A$153,000) – ended up being graffitied and set on fire during clashes between authorities and protesters in the Californian capital. It's alleged that users of Waymo, owned by Google parent company Alphabet, deliberately ordered vehicles from the transport service with the sole intention of damaging them as part of protests in the US city. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The company could not confirm if this was the case, as reported by the New York Times, which published a statement from Waymo saying its vehicles were simply "in the wrong place at the wrong time". Images posted to various social media platforms from the weekend showed protesters standing on top of a Waymo I-Pace waving a Mexican flag, with the vehicle covered in graffiti and several others nearby billowing smoke and flames. After being asked to shut down the app to prevent further attacks, the company said on Monday it was limiting services based on the protests. "We're aware of potential protests and will not be providing service in the areas protesters may be gathering out of an abundance of caution," a Waymo spokesperson said in a statement. Services were first suspended on Sunday evening, according to the NYT as the company worked with the Los Angeles Police Department (LAPD) to limit damage to vehicles. The company said in May it was providing more than 250,000 driverless rides in Los Angeles, San Francisco, Phoenix and Austin. Texas is the state in which Tesla CEO Elon Musk – who previously played a prominent role in US President Donald Trump's administration – said the US automaker would introduce its first robotaxi service later this month. Content originally sourced from: Waymo was called on to suspend its robotaxi service – at least partially – after its vehicles were deliberately targeted in the Los Angeles riots over the weekend. Several driverless Jaguar I-Pace electric robotaxis from Waymo – worth around US$100,000 (A$153,000) – ended up being graffitied and set on fire during clashes between authorities and protesters in the Californian capital. It's alleged that users of Waymo, owned by Google parent company Alphabet, deliberately ordered vehicles from the transport service with the sole intention of damaging them as part of protests in the US city. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The company could not confirm if this was the case, as reported by the New York Times, which published a statement from Waymo saying its vehicles were simply "in the wrong place at the wrong time". Images posted to various social media platforms from the weekend showed protesters standing on top of a Waymo I-Pace waving a Mexican flag, with the vehicle covered in graffiti and several others nearby billowing smoke and flames. After being asked to shut down the app to prevent further attacks, the company said on Monday it was limiting services based on the protests. "We're aware of potential protests and will not be providing service in the areas protesters may be gathering out of an abundance of caution," a Waymo spokesperson said in a statement. Services were first suspended on Sunday evening, according to the NYT as the company worked with the Los Angeles Police Department (LAPD) to limit damage to vehicles. The company said in May it was providing more than 250,000 driverless rides in Los Angeles, San Francisco, Phoenix and Austin. Texas is the state in which Tesla CEO Elon Musk – who previously played a prominent role in US President Donald Trump's administration – said the US automaker would introduce its first robotaxi service later this month. Content originally sourced from: Waymo was called on to suspend its robotaxi service – at least partially – after its vehicles were deliberately targeted in the Los Angeles riots over the weekend. Several driverless Jaguar I-Pace electric robotaxis from Waymo – worth around US$100,000 (A$153,000) – ended up being graffitied and set on fire during clashes between authorities and protesters in the Californian capital. It's alleged that users of Waymo, owned by Google parent company Alphabet, deliberately ordered vehicles from the transport service with the sole intention of damaging them as part of protests in the US city. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The company could not confirm if this was the case, as reported by the New York Times, which published a statement from Waymo saying its vehicles were simply "in the wrong place at the wrong time". Images posted to various social media platforms from the weekend showed protesters standing on top of a Waymo I-Pace waving a Mexican flag, with the vehicle covered in graffiti and several others nearby billowing smoke and flames. After being asked to shut down the app to prevent further attacks, the company said on Monday it was limiting services based on the protests. "We're aware of potential protests and will not be providing service in the areas protesters may be gathering out of an abundance of caution," a Waymo spokesperson said in a statement. Services were first suspended on Sunday evening, according to the NYT as the company worked with the Los Angeles Police Department (LAPD) to limit damage to vehicles. The company said in May it was providing more than 250,000 driverless rides in Los Angeles, San Francisco, Phoenix and Austin. Texas is the state in which Tesla CEO Elon Musk – who previously played a prominent role in US President Donald Trump's administration – said the US automaker would introduce its first robotaxi service later this month. Content originally sourced from: Waymo was called on to suspend its robotaxi service – at least partially – after its vehicles were deliberately targeted in the Los Angeles riots over the weekend. Several driverless Jaguar I-Pace electric robotaxis from Waymo – worth around US$100,000 (A$153,000) – ended up being graffitied and set on fire during clashes between authorities and protesters in the Californian capital. It's alleged that users of Waymo, owned by Google parent company Alphabet, deliberately ordered vehicles from the transport service with the sole intention of damaging them as part of protests in the US city. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The company could not confirm if this was the case, as reported by the New York Times, which published a statement from Waymo saying its vehicles were simply "in the wrong place at the wrong time". Images posted to various social media platforms from the weekend showed protesters standing on top of a Waymo I-Pace waving a Mexican flag, with the vehicle covered in graffiti and several others nearby billowing smoke and flames. After being asked to shut down the app to prevent further attacks, the company said on Monday it was limiting services based on the protests. "We're aware of potential protests and will not be providing service in the areas protesters may be gathering out of an abundance of caution," a Waymo spokesperson said in a statement. Services were first suspended on Sunday evening, according to the NYT as the company worked with the Los Angeles Police Department (LAPD) to limit damage to vehicles. The company said in May it was providing more than 250,000 driverless rides in Los Angeles, San Francisco, Phoenix and Austin. Texas is the state in which Tesla CEO Elon Musk – who previously played a prominent role in US President Donald Trump's administration – said the US automaker would introduce its first robotaxi service later this month. Content originally sourced from:
