CommSec Market Update

The ASX struggled today, slipping after an early rise of 0.4% faded, leaving markets unable to secure a fourth gain in five sessions despite a solid start to the week. Financials provided a bright spot with a modest uptick, while consumer discretionary stocks faced their second consecutive day of losses, offsetting gains earlier this month. Retailer Accent Group plunged nearly 12% due to disappointing margins, and fund manager GQG saw a 15% drop amid controversy surrounding Adani Group. On the global stage, Nvidia's earnings exceeded expectations but revealed slower growth forecasts and supply constraints, leading to a 2.5% dip in after-hours trading. Investors now await key speeches and manufacturing data for further market direction.

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After days of consolidation, the US dollar has reclaimed its spot in the winner's circle, as US yields rise despite ongoing geopolitical tensions. In company news, Target shares tumbled after the retailer slashed its profit outlook. At the same time, Ford announced plans to cut 14% of its European workforce, citing the shift to EVs and intensifying competition. Additionally, packaging giant Amcor gained on news of a potential merger. Meanwhile, oil prices dipped as US crude inventories increased. Looking ahead, Aussie shares are expected to open lower, ahead of Governor Michelle Bullock's upcoming speech, and the Aussie dollar remains under pressure due to the recovering US dollar.

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The Aussie market has hit 13 record highs this financial year.  Fresh off the back of one of them yesterday Laura and Stevie reflect on this and unpack the losses of today with most sectors seeing drops across the session.  They talk through the companies that caught their eye including Amcor, Webjet, and Nick Scali, Nvidia looks set to steal the spotlight ahead of releasing their earnings results, and they look to the upcoming news, AGM’s, and dividend payments.

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US stocks have rebounded, shaking off concerns over geopolitical tensions ahead of Nvidia’s much-anticipated earnings release. In contrast, European markets struggled, with stocks sinking as investors sought the safety of haven assets. Global bond yields also fell, reflecting the heightened demand for security. In the retail sector, Walmart surged to record highs, buoyed by optimism over strong holiday shopping trends, while Lowe’s reported a boost in sales thanks to hurricane recovery efforts. Meanwhile, iron ore prices hit a one-week high, driven by pre-holiday restocking activity. Looking ahead, Aussie shares are expected to dip after the ASX reached a record high on Tuesday.

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The market is up today to a fresh record high following a slow start the session this morning.  This marks four days of straight gains and the best day in around 3 months with 8 in every 10 stocks seeing gains.  Laura and Stevie unpack this performance in relation to the US market and look at the best performers with tech and financials seeing some standout moves.  Mining is back in positive territory, Elders is in focus, and they look at what to expect overnight.

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The NASDAQ and S&P 500 kicked off the week with gains, driven by a rally in Tesla shares. In contrast, Nike shares fell after the company flagged risks to its outlook, while healthcare stocks continued to struggle following recent sell-offs. Oil prices climbed nearly 3% amid escalating tensions in Ukraine, while gold surged on a weaker US dollar. Meanwhile, iron ore hovered near the key $100 USD per tonne mark, supported by strong demand. Looking ahead, Aussie shares are set to rise on Tuesday, buoyed by climbing commodity prices.

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Steve is solo today unpacking what was a good day overall following a slow start on the local market.  This makes a 3-day winning streak which he reflects on following the losses of last week both locally and in the US.  He unpacks the performance of each of the local sectors with mining stocks clawing back some of the recent losses, looks at some of the biggest movers including Dusk, Life360,and CSL Limited, and looks to what to expect as the week continues.

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Wall Street has pulled back as concerns over interest rates weigh on markets. U.S. pharmaceutical stocks, including Pfizer, declined following cabinet appointments by Donald Trump. Meanwhile, the "Magnificent 7" tech stocks faced pressure from rising bond yields. In commodities, aluminium prices surged after China cancelled export tax rebates, gold lost its shine following Donald Trump’s decisive election victory and oil dropped 2% on weaker Chinese demand. Looking ahead, Aussie shares are expected to dip, with energy stocks likely to drag the market lower.

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The market has seen a lift today.  Laura unpacks this session’s performance which was a sizable gain given the falls that we saw in the earlier half of the week.  She looks at the performance of the US market and the dulled possibility of US rate cuts.  Data out of China today was mixed but overall their economy did show some positive signs following the recent government stimulus.  Laura looks at the performance of local sectors and what investors should be watching into next week.

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For the second consecutive session, Wall Street consolidates following the post-Trump election rally. At the same time, U.S. Treasury yields slip from a three-month high as markets await comments from Jerome Powell. In company news, Disney stocks surge on streaming growth, while Rivian and Tesla face pressure amid reports that Trump may end the EV tax credit. Meanwhile, government contractor stocks extend their decline over DOGE-related concerns. Looking ahead, Australian shares are expected to rise on Friday supported by energy producers and Ryan previews China’s upcoming economic data.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

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