The long-awaited tariff deadline has landed today, and the market has dropped in response. This decline has wiped out the gains from prior in the week, and Laura and Stevie unpack what unfolded with the Trump administration revealing multiple tariffs. Australia’s tariff was low compared to other countries, even New Zealand being given a higher tariff, and Canada has seen a tariff in excess of 30%. The financial sector has declined today weighing on the market, and utilities was the only sector to see gains. Resmed has been one of the winners on the market today, while Star Entertainment hit an all-time low, and Laura and Stevie look to the week ahead.

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Wall Street retreated overnight despite upbeat earnings from major tech stocks. Microsoft hit a $4 trillion market cap after beating earnings expectations, while Meta seized the moment to ramp up its aggressive AI spending. Elsewhere, eBay shares jumped on signs of consumer resilience, but Amazon's gloomy earnings forecast weighed on its stock. Adding to the cautious sentiment, US inflation picked up in June, and copper prices tumbled on fresh tariff concerns. Back home, Australian home prices rose for a sixth straight month, but local shares are expected to open August lower after gaining 2% through July.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

See omnystudio.com/listener for privacy information.

The month has ended up overall. Laura and Stevie reflect on four months of improvements despite the local market dropping slightly today. US interest rates are back in the conversation and trade deals remain in focus with South Korea the latest to make a deal and the deadline set for tomorrow with many still to announce deals. Locally, only two of the sectors fell today, and it was largely mining that weighed on the market following data out of China and talk of copper tariffs from President Trump. Flight Centre saw significant declines today, the tech sector hit record highs, and Laura and Stevie look to the day ahead.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

See omnystudio.com/listener for privacy information.