| Read in browser | |||||||
 Good morning, Rich Henderson in Bloomberg’s Melbourne bureau with the latest headlines...
What’s happening nowCritical minerals stocks are on a tear from signs the US may purchase equity stakes in companies, sending the likes of Australia-listed Resolution Minerals up 56% Tuesday. Stock exchange operator ASX has signaled a quicker path to equity market listings as it faces heightened competition from rival Cboe Global Markets, which gained approval to list companies last week. The Reserve Bank of Australia may be done with interest-rate cuts given the strength of the economy, according to Mark Woodruff, Australia & New Zealand chief executive officer for Citigroup. Investors are cheering a revamp at ANZ under new chief executive Nuno Matos with shares up around three times the gain of the S&P/ASX 200 index. Australian Prime Minister Anthony Albanese is set to meet President Donald Trump next week, as tensions over the AUKUS defense pact and Canberra’s bid to challenge China’s dominance in critical minerals cloud the bilateral relationship. On Bloomberg’s Australia Ahead, Sam Roggeveen of the Lowy Institute breaks down what’s at stake. Click image to play.  Click image to play. Bloomberg Growth in New Zealand retail card spending hints that economic growth may have returned with purchases on debit and credit cards at retail stores rising 0.6% from the second quarter. New Zealand’s property market may be in for a boost as the central bank will allow lenders to make more higher-risk housing loans from December following a review of lending limits.  What happened overnightHere’s what my colleague, market strategist Mike “Willo” Wilson says happened while we were sleeping… US Treasury yields fell and stocks pared losses after Federal Reserve Chair Jerome Powell’s comments on labor market fragility left intact expectations for two more interest-rate cuts by the end of the year. While the dollar fell as a result, so did Aussie and kiwi as US-China relations soured further. Today, investors will be monitoring speeches by an RBA official and RBNZ’s chief economist. ASX futures point to a strong open in local equities. US President Donald Trump warned he might stop trade in cooking oil with China, marking the latest escalation in trade tensions between the world’s two largest economies. The US is on track for another interest-rate cut later this month, Federal Reserve Chair Jerome Powell signaled Tuesday. Powell said the economic outlook appeared unchanged since policymakers cut rates last month and projected two further reductions in 2025. Jamie Dimon, chief executive of JPMorgan Chase, warned there may be more blow-ups in the US credit market after the implosion of auto lender Tricolor and car-parts supplier First Brands. “When you see one cockroach, there are probably more,” he said Tuesday. “Everyone should be forewarned.” The European Union is mulling a plan to force Chinese firms to hand over technology to European companies to operate locally, according to people familiar with the plans. Such a move would mark an aggressive new push to make the bloc’s more competition. What to watch• 10:30 a.m.: Westpac Leading Index One more thing... Photographer: Tiffany Hagler-Geard/Bloomberg Spotify Technology is partnering with Netflix to bring some of its top video podcasts to the streaming service’s massive audience. Certain series from the Ringer and Spotify Studios, including The Bill Simmons Podcast, will publish simultaneously on both platforms, starting in the US next year and eventually expanding to more markets, the companies said Tuesday. Simmons currently posts his full video episodes to Spotify and YouTube. But once the Netflix partnership begins, only select clips — not entire episodes — will be accessible on YouTube. Other programs that will begin appearing on Netflix include The Zach Lowe Show, The Rewatchables, Conspiracy Theories and The Big Picture. Follow us
You received this message because you are subscribed to Bloomberg’s Australia Briefing newsletter. If a friend forwarded you this message, sign up here to get it in your inbox.
|
