SBS On the Money

Australian shares extended their losing streak, with the ASX200 down 0.6% to a three-week low and ten of eleven sectors finishing in the red, even as US markets hit fresh records. Utilities led the decline, with Origin Energy tumbling, while a lift in oil prices and a rebound in lithium miners offered some support. For a closer look at the day’s moves and what’s driving the divergence with Wall Street, Ricardo Gonçalves speaks with MPC Markets CEO Mark Gardner.

The ASX slips to a three week low ahead of a pivotal week for global markets, with Raymond Chan from Morgans breaking down what to watch as central banks meet, US tech giants report earnings and fresh inflation data lands. At the same time, the countdown to tax time begins, with Assistant Commissioner Anita Challen outlining the ATO’s focus on work related deductions, side hustles and misleading advice circulating online.

The ASX200 edged lower by 0.1 per cent, capping a weekly fall of 1.8 per cent, as global markets pulled back from record highs and investors turned their attention to upcoming tech earnings, with Tony Sycamore from IG Markets unpacking what’s ahead. Meanwhile, new data from ASIC reveals a growing number of young Australians are turning to AI platforms, social media and so-called finfluencers for financial information, raising concerns about credibility and oversight. ASIC Commissioner Alan Kirkland explains the regulator’s response.

The ASX slipped 0.6 per cent amid rising geopolitical tensions in the Gulf, with losses led by materials and the big banks, while energy stocks climbed on a surge in oil prices. Against that backdrop, a sharp shift in the jobs market is emerging, with SEEK reporting a 75 per cent rise in advertised roles mentioning AI skills.

The Australian sharemarket slipped 1.1 per cent, yet remains within reach of a record high, continuing its recovery from March’s downturn as super funds rebound and long-term gains hold steady. In this episode of SBS On the Money, Ricardo Gonçalves unpacks the day’s biggest moves, including Cochlear’s dramatic 40 per cent fall to a 10-year low after a profit warning tied to weak US consumer confidence and global uncertainty. Portfolio manager James Gerrish from Market Partners joins the conversation to discuss whether other companies will also be hit by the war in the Middle-East.