AI Booms, Housing Slumps as Markets Open | Australia News

Markets open flat in Australia as the ASX ticks up minimally, while the Aussie dollar rebounds slightly but remains down for the month. Across the pond, AI-driven tech stocks surge, pushing the Dow to a new two-day high and lifting the S&P 500 and Nasdaq. Investors are betting big on AI, ignoring hefty spending with uncertain returns. Meanwhile, Australia’s housing market takes a hit, with national home values dropping 0.4% — the steepest monthly fall since last December — as Sydney and Melbourne lead the decline. Economists expect sluggish real estate conditions to persist amid high interest rates, weak sentiment, and shifting tax policies. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b58d165cb005ed02