SBS On the Money

BHP surged to a record high and overtook Commonwealth Bank as Australia’s largest listed company, helping lift the materials sector evenas the ASX200 fell for a third straight session. In this episode of SBS On the Money, Jonathan Shead from State Street Investment Management unpack BHP’s milestone, the strength in mining stocks and the broader investment environment. NAB Head of Australian Economics Gareth Spence also joins, to explain why business conditions have dropped to their weakest level since 2020 and how the conflict in the Middle East is driving up costs across supply chains.

The ASX has broken an eight-day losing streak, lifted by mining stocks and easing oil prices, while global tech earnings continue to shape investor sentiment. In this episode of SBS On the Money, Morningstar’s Lochlan Halloway unpacks the day’s market action, as ANZ posts a higher profit and signals confidence Australia will avoid recession. Meanwhile, Coles flags further price pressures across supermarket shelves, and Cotality’s Tim Lawless warns Australia’s housing market may be entering a downturn as interest rates bite and growth slows.

The S&P/ASX 200 has extended its losing streak to an eighth straight session, as oil surged past US$120 a barrel following comments from US President Donald Trump that he would extend the naval blockade of the Strait of Hormuz. The effect of rising oil prices is being reflected in company reports with Woolworths Group downgrading its full-year profit outlook, despite reporting a lift in third quarter food sales. For more, Stephanie Youssef spoke with TMS Private Wealth Portfolio Manager Ben Clark.

A sharp lift in inflation and a seventh straight fall on the ASX set the tone for this episode of the SBS On the Money podcast, unpacking how global conflict is feeding into Australia’s economy. Official data shows annual inflation expanding to 4.6 per cent in March, driven by a surge in fuel and electricity costs. Harry Murphy Cruise from Oxford Economics breaks down what this means for interest rates and how much further prices could rise, while Damien Boey from Wilson Asset Management explains the market reaction, sector moves and what investors are watching next as US tech earnings come into focus.

Australian shares extended their losing streak, with the ASX200 down 0.6% to a three-week low and ten of eleven sectors finishing in the red, even as US markets hit fresh records. Utilities led the decline, with Origin Energy tumbling, while a lift in oil prices and a rebound in lithium miners offered some support. For a closer look at the day’s moves and what’s driving the divergence with Wall Street, Ricardo Gonçalves speaks with MPC Markets CEO Mark Gardner.