Wed, 29th Jan 2025
from Finance News Wrap Hosted by Paige Estritori
In this week's finance podcast, Paige Estritori discusses major global industry news including the unveiling of a free, open-source Artificial Intelligence model by Chinese tech startup DeepSeek. Its release impacted major stock markets and currency trading, with the Euro STOXX 50, tech stocks, Nasdaq, and S&P 500 futures feeling the repercussions. Cryptocurrencies followed a similar trend, with Bitcoin falling below the $100,000 mark. Housing markets in Australia showed contrasting developments, with cities facing a decline in dwelling values and potential mortgage stress, versus slower growth rates. Meanwhile, consumption is threatened as factors like phasing out tax cuts and fiscal drag affect Australian consumers' spending capacity. The era of "Trumpflation", U.S. debt levels and bond yields are stirring global market volatility, while Australia prepares to combat its own economic difficulties. Stay updated on the latest news by following Financial Services Online.n
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