It’s all eyes on the US for 2025!

1 week ago•By Matthew Smith

Anti-incumbent sentiment has seen the leadership of the world’s richest economies in turmoil. After France, came the collapse of the German government. Both Canada and South Korea are in turmoil. Italy, of all places, looks stable. Go figure!
Geopolitical tensions in the Middle East are continuing with the initial joy over the freedom of Syria sobered by incursions on its borders. There is renewed hope of a peace deal between Israel and Hamas. Russia’s defeat in Syria could be good or bad news for Ukraine, as we all hope for peace.
Of all the major stock market indexes, the US NASDAQ has been the standout performer of 2024 at +32% year to date, closely followed by the S&P 500 at +26%. Closer to home, our standout was the S&P/ASX Financials index at +32 %. I wonder what 2025 will bring?
After 6 days of weak trading the S&P/ASX 200 was up yesterday but has finished down slightly today at 8,309. The weaker commodity outlook has hit the Aussie dollar and is now trading at US 63.15c.
The US is expected to revise down its forecast for rate cuts on Thursday, while investors are still expecting a 25-basis cut.
Federal Government spending is in focus with a record amount ‘off-budget’ making the deficit picture far worse than advertised. It’s still spending and needs to be paid back by taxpayers. Yikes!
Good news on Australia’s employment front with the National jobless rate at 3.9%. It’s not so great if you are recruiting!
With the number of homes for sale continuing to rise, Perth property prices are moderating, and the REA group’s Director of Economic Research is now forecasting Perth prices to grow at 3-6% in 2025.
Let me and my team know if moving is on your mind. We can walk you through the process to make it easy and stress-free.
As this is my last newsletter for 2024, I would like to wish everyone a very merry Christmas and a happy and healthy New Year.

by Jody Fewster

Please contact me on 0414 688 988 or by email at jody.fewster@raywhite.com
Please click here to read some of my testimonials.

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