The Aussie share market has opened slightly higher on Friday after the S&P 500 and Dow Jones recorded gains on Wednesday and closed for trading Thursday local time to honour the life of former president Jimmy Carter. US president-elect Donald Trump says he's considering declaring a national economic emergency to justify tariffs of 10 per cent on global imports and 60 per cent on Chinese goods. Follow the day's financial news and insights from our specialist business reporters on our live blog.
On Thursday I wrote this story about YouTube creators takingI spoke to one of the plaintiffs last night, UK gaming YouTuber Josh Strife Hayes, who said the case was a massive deal for social media creators. 'The creator economy runs on a great deal of trust. While larger creators with teams can monitor click-through rates and estimate income, smaller creators don't have the time or resources to track every aspect, and so they trust companies to act morally and ethically. 'This is a shock to the affiliate marketing economy, the erosion of trust will ripple out to many other companies.'Hi Rachel This comment you made about yields seems contradictory - yields dropping to an 8 month high? Can you explain? Thanks 'Treasury yields have dropped, with 10-year yields hitting an eight-month high'US Treasury yields have eased slightly after hitting an eight-month high on Wednesday local time, as investors shifted their expectations for further rate cuts by the Fed Reserve. The benchmark 10-year Treasury yield fell on Thursday local time to 4.7%, a small dip from a peak the day before, which was theDrew Matus, chief market strategist at MetLife Investment Management told Reuters it was a sign investors were being cautious ahead of US payroll data due to be released Friday local time.has released his latest economic note about Australian employment data, China's GDP, and US CPI data. CBA economists expect a flat outcome for employment growth in December in Australia, with the unemployment rate ticking up to'While well down from its 2022 peak of +6.6%, the annual growth rate of the core consumer price index (CPI ex-food and energy) at +3.3% in November is still well-above the US Federal Reserve's +2% goal. 'Economists anticipate that the core CPI will remain at 3.3% for a fourth consecutive month in December when issued on Wednesday. Given low unemployment and stubborn price pressures, Fed policymakers are expected to refrain from easing monetary policy this month.'December figures on home prices, employment, retail spending, industrial production and fixed asset investment are due to be released in China on Friday.Analysts believe the official CPI figures may underestimate weaknesses in prices, particularly in housing.'Overall, we think the continued decline in CPI inflation and now 27 straight months of PPI deflation suggest the recent domestic demand recovery is still too shallow and too weak to forcefully bring China out of deflation trap in a sustained manner. 'Moreover, our channel-checks suggest the boost from the earlier trade-in program (a major pro-consumption policy) started to fade recently, with moderation in white-goods and auto sales.' Barclays expects China's CPI to stay low for longer, and for the Producer Price Index to remain in deflation throughout 2025 due to the absence of demand-side stimulus, tariffs, and structural headwinds. 'We think a new trade war between China and US would, on balance, have a deflationary effect, given downward pressure on exports would exacerbate the overcapacity issues in China.' Recent data from CoreLogic revealed house prices dropped ever-so-slightly by -0.01% on average, nationally, in the last quarter.The drop in Bitcoin prices may be due to several factors.that recent strong jobs data in the US and PMI figures have led to new expectations when it comes interest rate cuts in 2025. And that has led to a rise in US Treasury yields, 'which often inversely correlates with risk assets like Bitcoin, leading to a sell-off in cryptocurrencies,' Bernegger said.Just a reminder US markets were closed on Thursday local time as the country mourns the death of former US president Jimmy Carter. Hundreds of mourners including all five living current and former US presidents attended a memorial service at the Washington National Cathedral. President Joe Biden said Carter's life was 'the story of a man who never let the tides of politics divert him from his mission to serve and shape the world'.Bitcoin has fallen sharply amid fears the cryptocurrency will crash later this year, and speculation the US government will sell more of the US$18.5 billion worth of Bitcoin it seized from the Silk Road. Elon Musk also wrote on X a few days ago that: 'If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal'.Farmers have told the ABC they're still struggling with the fallout from the recent bird flu outbreak and won't be back to full capacity for some time.If you were lounging on a beach yesterday you can catch up on all the top finance news from Thursday inTreasury yields have dropped, with 10-year yields hitting an eight-month high, as investors try to figure out how Trump's plans might affect the economy. Policies like tax cuts and fewer business regulations are expected to boost growth, but stricter immigration rules and tariffs could increase prices. The Federal Reserve is likely to hold back on cutting interest rates until it sees how these changes play out.US media outlet CNN has reported president-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries. The move will allow Trump to build a new tariff program by using the International Economic Emergency Powers Act (IEEPA), which authorises a president to manage imports during a national emergency.The Australian share market is expected to open higher this morning off the back of a retreat in US Treasury yields
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