SBS On the Money

The ASX avoids the worst of a global sell-off, while Macquarie CEO Shemara Wikramanayake signs off after eight years.

Global sharemarkets have plunged following the US midterm elections, with the Dow Jones falling 3.5 per cent and the Nasdaq sliding 5.5 per cent into correction territory. But Australia's ASX 200 has held up comparatively well.

SBS Finance Editor Ricardo Gonçalves speaks with Omkar Joshi, Chief Investment Officer at Opal Capital Management, about what's driving the sell-off, concerns surrounding AI valuations and where investors might find opportunities.

Plus, Macquarie Group CEO Shemara Wikramanayake delivers her final financial results before stepping down after eight years at the helm and nearly 40 years with the bank. SBS's Tom Kennedy spoke with her at the bank's results briefing.

Why global sharemarkets have plunged following the US midterm elections.
How Australian shares managed to avoid the worst of the global sell-off.
Whether the AI investment boom is facing a major reality check.
What higher interest rates mean for investors and where opportunities may emerge.
Shemara Wikramanayake's final results and legacy at Macquarie Group.

David Jones faces an uncertain future. What does its collapse into administration mean for shoppers, gift cards and the broader industry?

After 188 years, iconic Australian retailer David Jones has entered voluntary administration, raising questions about its survival, the future of department stores and what it means for shoppers ahead of the Christmas sales. SBS Finance Editor Ricardo Gonçalves speaks with Professor Gary Mortimer from Queensland University's Faculty of Business and Law. Plus, Heath Moss from HLM Investments explains why the ASX200 surged 2.6 per cent following the US mid-term elections, as oil prices plunged and NextDC shares soared.

In this episode:
How David Jones ended up in voluntary administration and whether the iconic retailer can survive.
What administration means for shoppers, including gift cards, Black Friday discounts and Christmas sales.
Whether the traditional department store model is under threat and what David Jones's troubles could mean for Myer.
Why the Australian sharemarket surged 2.6 per cent following the US mid-term elections, and how plunging oil prices are affecting investors.
What's behind NextDC's extraordinary share price rally, the implications of NAB's profit results and where investors could find opportunities.

Canva is cutting or relocating more than a fifth of its workforce. What does it signal about the impact of AI?

Australian design giant Canva is cutting or relocating more than 1,200 jobs in what its co-founder describes as the company's hardest moment. What does the restructure reveal about the challenges facing businesses in the AI era? SBS Finance Editor Ricardo Gonçalves speaks with economic futurist Evan Lucas, while Francesco de Stradis from Ord Minnet explores how the US mid-term elections, higher Australian interest rates and mounting pressure on retailers are shaping the outlook for investors.

In this episode:
Why Canva is restructuring more than a fifth of its workforce and what it reveals about the opportunities and challenges of AI.
How the outcome of the US mid-term elections could influence global financial markets and Australian investors.
Whether the RBA's latest interest rate rise will be its last, and what continued growth in household spending means for inflation.
Why Australian retailers are under pressure ahead of Black Friday and Christmas, amid reports of financial trouble at David Jones.
Where investors could find opportunities as businesses navigate higher borrowing costs, economic uncertainty and the AI revolution.

The RBA lifts rates to an 18-year high of 4.85%, adding more pressure to mortgage holders. But could this be the last rise?

The Reserve Bank has lifted interest rates for the fifth time this year, adding more than $530 to monthly repayments on a typical $700,000 mortgage since February. But is the RBA now finished raising rates, and what does its decision mean for house prices and the economy? SBS Finance Editor Ricardo Gonçalves speaks with HSBC Chief Economist Paul Bloxham, UBS Wealth Management’s Mike Jenneke and Canstar’s Sally Tindall about the outlook for borrowers, savers and investors.

In this episode:
Why the RBA lifted interest rates to 4.85%, and whether this could be the final rise of the cycle.
How higher mortgage repayments and falling borrowing capacity are affecting housing affordability, and what borrowers can do to secure a better rate.
Why Australia's housing downturn could deepen, and whether the economy is heading towards a recession.
How investors are responding to the RBA decision, global uncertainty and the sell-off in technology stocks.
What higher interest rates mean for savings accounts and how to make the most of better returns.

Australian home values have fallen for seven straight months, with another rate rise expected to deepen the downturn.

Australian home values have dropped 6.7 per cent since their March peak, with another expected interest rate rise threatening further weakness. Cotality Head of Research Tim Lawless speaks with Tom Kennedy about the downturn and what comes next for property. SBS Finance Editor Ricardo Gonçalves also speaks with David Scutt, Senior Market Analyst at StoneX, about falling shares, Westpac’s profit and the global forces shaping investment decisions.

In this episode
What is driving the fastest decline in home values in more than 40 years, and whether the downturn could extend into 2027.
How a fifth interest rate rise this year could affect property prices and spring buying and selling.
Why Australian shares fell as major banks cut their economic growth forecasts.
What Westpac’s results and falling supermarket shares reveal about the pressures facing businesses.
How global interest rates, US tech earnings, conflict in the Middle East and US midterm elections could influence market