It's Monday, the seventh of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know. When it's five minutes, I'm Michael Thompson and good morning Sean Aylmer.

It's Monday, the seventh of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know. When it's five minutes, I'm Michael Thompson and good morning Sean Aylmer.

Good morning Michael.

Good morning Michael.

Sean. Before we get into the top five stories, a very quick, very special announcement, we have a Fear and Greed newsletter and as of now, right this very moment, it is going daily. It was previously every week and now it is every weekday at six am. Head along to Fearangreed dot com dot au and sign up. It is entirely free, and I'll put a link in today's show notes as well. But Sean, on to the Fast five story. Number one biggest story around today. Global financial markets are in turmoil, with the ASX set to fall sharply this morning. Futures markets are actually suggesting more than four percent. This is on the back of course, of US tariff's a retaliatory impulse from China, and fear is really of a global recession.

Sean. Before we get into the top five stories, a very quick, very special announcement, we have a Fear and Greed newsletter and as of now, right this very moment, it is going daily. It was previously every week and now it is every weekday at six am. Head along to Fearangreed dot com dot au and sign up. It is entirely free, and I'll put a link in today's show notes as well. But Sean, on to the Fast five story. Number one biggest story around today. Global financial markets are in turmoil, with the ASX set to fall sharply this morning. Futures markets are actually suggesting more than four percent. This is on the back of course, of US tariff's a retaliatory impulse from China, and fear is really of a global recession.

Tech stocks at Wall Street are now fishlyhly in bear territory after the NASTAQ one hundred dropped six percent over the weekend, down more than twenty percent from its peak. The broader based s and P five hundred percentun six percent. Basically, trillions of dollars have been wiped off share markets in the past week or so. The most recent sell off was in response to Beijing announcing additional thirty four percent tariffs on goods from the US, the same rate imposed by the White House on Chinese goods. Futures training on the ASEX two hundred suggests our market will drop four point three percent on opening, worth about one hundred and fifteen billion dollars. That would take it to its lowest level since January last year. It fell two and a half percent on Friday, already down ten percent from its peak about six weeks ago. Investment banks are now forecasting the US will fall into recession. Not good.

Tech stocks at Wall Street are now fishlyhly in bear territory after the NASTAQ one hundred dropped six percent over the weekend, down more than twenty percent from its peak. The broader based s and P five hundred percentun six percent. Basically, trillions of dollars have been wiped off share markets in the past week or so. The most recent sell off was in response to Beijing announcing additional thirty four percent tariffs on goods from the US, the same rate imposed by the White House on Chinese goods. Futures training on the ASEX two hundred suggests our market will drop four point three percent on opening, worth about one hundred and fifteen billion dollars. That would take it to its lowest level since January last year. It fell two and a half percent on Friday, already down ten percent from its peak about six weeks ago. Investment banks are now forecasting the US will fall into recession. Not good.

Sure, that's equities, What about the Aussie dollar, and what about the outlook for interest rates as well?

Sure, that's equities, What about the Aussie dollar, and what about the outlook for interest rates as well?

Well? It's just above sixty US cents at the moment, but plenty of traders think it will drop below that level. A trade war and US recession could lead to a global recession that'll push commodity prices down. Our currency depends a lot on commodity prices. If there is a silver market lining. It's what might happen to interest rates if our economy slows, the Reserve Bank will cut interest rates. In fact, markets are pricing in four rate cuts over the next twelve months. Ain Zed actually thinks that we three rate cuts starting in May.

Well? It's just above sixty US cents at the moment, but plenty of traders think it will drop below that level. A trade war and US recession could lead to a global recession that'll push commodity prices down. Our currency depends a lot on commodity prices. If there is a silver market lining. It's what might happen to interest rates if our economy slows, the Reserve Bank will cut interest rates. In fact, markets are pricing in four rate cuts over the next twelve months. Ain Zed actually thinks that we three rate cuts starting in May.

All right. Moving on to story number two now sean and one from the election campaign, Prime Minister Anthony Alberanezi says a re elected ALP government will spend two point three billion dollars to provide thirty percent rebates on household battery systems. That's from July this year.

All right. Moving on to story number two now sean and one from the election campaign, Prime Minister Anthony Alberanezi says a re elected ALP government will spend two point three billion dollars to provide thirty percent rebates on household battery systems. That's from July this year.

So housing and batteries have become a focal point of the campaign, with the Opposition expected to announce a battery program before the three May poll. For his part, oppositionally to Peter Dutton yesterday was in Tasmania and Melbourne. He said he cap international student arrivals easing the housing crisis. On the battery announcement, about one in three Australian households have solar but about one in forty have a battery system, mostly because it's really expends of the gap means households still require energy from the grid in evening hours when there's no solar because prices and prices are typically much higher at that point. But if people could put batteries in, they could store it and wouldn't have to dip into the grid.

So housing and batteries have become a focal point of the campaign, with the Opposition expected to announce a battery program before the three May poll. For his part, oppositionally to Peter Dutton yesterday was in Tasmania and Melbourne. He said he cap international student arrivals easing the housing crisis. On the battery announcement, about one in three Australian households have solar but about one in forty have a battery system, mostly because it's really expends of the gap means households still require energy from the grid in evening hours when there's no solar because prices and prices are typically much higher at that point. But if people could put batteries in, they could store it and wouldn't have to dip into the grid.

Story number three. They might be carnage on global financial markets at the moment, Sean, but it doesn't seem to have filtered through yet to the local housing market. The preliminary clearance rate for auctions over the weekend rose to almost seventy one percent, which is the highest level in six weeks.

Story number three. They might be carnage on global financial markets at the moment, Sean, but it doesn't seem to have filtered through yet to the local housing market. The preliminary clearance rate for auctions over the weekend rose to almost seventy one percent, which is the highest level in six weeks.

Pretty good. Twenty five hundred ouctions as well, first time above seventy percent since mid February. Most cities recorded a rise. Melbourne at the moment is doing really well that seventy three percent. It came in at Sydney sixty nine percent. Adelaide was the best of the mid side size capitals at about eighty eight percent in terms of its preliminary clearance rate.

Pretty good. Twenty five hundred ouctions as well, first time above seventy percent since mid February. Most cities recorded a rise. Melbourne at the moment is doing really well that seventy three percent. It came in at Sydney sixty nine percent. Adelaide was the best of the mid side size capitals at about eighty eight percent in terms of its preliminary clearance rate.

Story number four. Here's a been of good news, Sean, in the midst of a lot of bad news. The Reserve Bank has a system Stability report, and it says that budget pressures have actually eased for households, and the share of households that are behind on mortgage payment has stabilized at pre pandemic levels.

Story number four. Here's a been of good news, Sean, in the midst of a lot of bad news. The Reserve Bank has a system Stability report, and it says that budget pressures have actually eased for households, and the share of households that are behind on mortgage payment has stabilized at pre pandemic levels.

The Bank says cash flow pressures will remain widespread in the short term, but should ease further in coming months. But the Central Bank's worried that expectations of lower interest rates could cause households to take on too much debt. Already, figures from bureaus just household spending is holding up. Data on Friday shows five successive months of higher household spending. Terms of businesses, the Reserve Banks notes that most are still making profits despite slower economic growth and higher costs. The good news is that signs of business financial stress have stabilized, and on solvencies, the Reserve Banks say they've risen but remained slightly below the pre pandemic level trend and pays little threat to stability all right.

The Bank says cash flow pressures will remain widespread in the short term, but should ease further in coming months. But the Central Bank's worried that expectations of lower interest rates could cause households to take on too much debt. Already, figures from bureaus just household spending is holding up. Data on Friday shows five successive months of higher household spending. Terms of businesses, the Reserve Banks notes that most are still making profits despite slower economic growth and higher costs. The good news is that signs of business financial stress have stabilized, and on solvencies, the Reserve Banks say they've risen but remained slightly below the pre pandemic level trend and pays little threat to stability all right.

Last one Sean story number five, the world's five hundred richest people, suffered the biggest two day loss ever on the Bloomberg Billionaires Indexes. Fallout from President Donald Trump's tariff announcement just decimated markets across the globe.

Last one Sean story number five, the world's five hundred richest people, suffered the biggest two day loss ever on the Bloomberg Billionaires Indexes. Fallout from President Donald Trump's tariff announcement just decimated markets across the globe.

Billionaires on the Wealth list lost a collective five hundred and thirty six billion US dollars. That's about nine hundred billion ozzie in just two days. Ninety percent of them went backwards. No one lost more over the two day stretch than Tesla's Elon Musk. The ev makers share price fell ten percent on Friday alone, cut thirty one billion dollars from Musk's wealth. He's lost about one hundred and thirty billion dollars this year alone. Met A platforms founder Mark Zuckerberg Foled followed with a twenty seven billion dollar loss as a social media company dropped almost fourteen percent over those two days. Flip side Nike found a Phil Knight one of the few winners. The shoe company stock gained over the weekend after Donald Trump said he'd had a very productive call with the Vietnamese leader about eliminating a forty six percent tariff. Now much of Mikey's, Nike's manufacturing, he's done in Vietnam. Good news for Phil Knight.

Billionaires on the Wealth list lost a collective five hundred and thirty six billion US dollars. That's about nine hundred billion ozzie in just two days. Ninety percent of them went backwards. No one lost more over the two day stretch than Tesla's Elon Musk. The ev makers share price fell ten percent on Friday alone, cut thirty one billion dollars from Musk's wealth. He's lost about one hundred and thirty billion dollars this year alone. Met A platforms founder Mark Zuckerberg Foled followed with a twenty seven billion dollar loss as a social media company dropped almost fourteen percent over those two days. Flip side Nike found a Phil Knight one of the few winners. The shoe company stock gained over the weekend after Donald Trump said he'd had a very productive call with the Vietnamese leader about eliminating a forty six percent tariff. Now much of Mikey's, Nike's manufacturing, he's done in Vietnam. Good news for Phil Knight.

All right, there we go the top five business stories in five minutes. Thank you very much, Sean, Thank you, Michael. It is Monday, the seventh of April twenty twenty five. Remembered he'd follow on the podcast a five minutes isn't enough. You can find our longer daily show called Fear and Greed whereever you listen to podcasts, and don't forget head along to Fearandgreed dot com dot a un sign up for our free daily newsletter. There's a link in today's show notes as well. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.

All right, there we go the top five business stories in five minutes. Thank you very much, Sean, Thank you, Michael. It is Monday, the seventh of April twenty twenty five. Remembered he'd follow on the podcast a five minutes isn't enough. You can find our longer daily show called Fear and Greed whereever you listen to podcasts, and don't forget head along to Fearandgreed dot com dot a un sign up for our free daily newsletter. There's a link in today's show notes as well. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.