CommSec Market Update

Wall Street ends the final day in the trading week in negative territory and weaker economic figures from China to create headwinds in local shares. European investors pensive ahead of French polling results and Nike experienced its worst day since its listing in 1980, which reverberated throughout the leisure wear sector, leading to declines in companies like Lululemon, JD Sports, and Puma.

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Despite starting the session strongly, the Australian share market had a subdued finish to a week dominated by inflation concerns. Over the week, the market showed resilience, recovering from significant mid-week losses caused by worse-than-expected inflation data. Highlights included Mirvac's rebound after selling a major stake in a Sydney office tower, ANZ's acquisition of Suncorp's banking business, and Adore Beauty's acquisition of the premium brand iKOU. The upcoming US inflation data, French elections, and Australian retail spending data are set to influence market movements next week.

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Wall Street shows only modest gains ahead of key inflation figures, while Aussie shares are expected to rise ahead of private sector credit data. A fall in US bond yields was outperformed by technology shares with server maker, Super Micro Computer, now the top performer on the S&P 500. European markets were mixed, with retail stocks performing poorly and Aussie shares were up neutralising yesterday’s decline.

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The Australian share market experienced a significant dip, with real estate stocks notably plummeting due to a combination of ex-dividend trading and fears of rising interest rates. Inflation remains a pressing issue, with May's data showing a 4% increase, the highest in six months, leading to speculation about potential rate hikes in August or September. Despite overall market losses, tech stocks showed resilience, continuing their upward trend. Investors are also closely monitoring upcoming economic data and the US presidential debate for further market implications.

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Wall Street continues to grind ahead of key inflation figures, while Aussie shares are expected to fall sharply as inflation data spooks investors. Micron Technology declined in late trading after its forecast failed to meet the sky-high expectations of some investors. Australia now has the highest inflation in the developed world, with commodity prices under pressure due to a push in the US dollar.

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Laura and Stevie start the episode by calling this a ‘terrible day on the share market’.  Join them as they unpack this on a day where Inflation data was significantly higher than expectations.  They look at how this has impacted market sentiment, discussions around rate hikes, and what further upcoming economic data could do to the movements that we saw today.  They talk through the stocks that caught their attention, sector performance, and reflect on the week overall.

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Wall Street recovers thanks to a move higher for technology names. All eyes are on Micron Technology, which will release its third-quarter earnings report on Wednesday. Amazon, Meta, and Google are up 1% and Nvidia shows a significant rebound after falling for three straight sessions. In Canada, inflation numbers came in stronger than expected after cutting interest rates for the first time in four years. Australian shares are expected to open lower ahead of key inflation data, with the resource sector under pressure.

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The Aussie market has reversed the losses of yesterday.  Laura and Stevie discuss this ‘bounce back’ and why it is surprising given the upcoming local and international inflation data.  They discuss how this upcoming data could impact the days ahead, consumer confidence in the current climate, and look at the sectors in detail with all of them spending the majority of the day in positive territory.

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A nervous start for Wall Street with tech stocks in reverse, while Aussie shares are expected to open higher ahead of KFC operator Collins Foods' results. US equities might be set to pause as investors await inflation data. ResMed's Aussie shares are under some pressure, while energy stocks and banks in Europe saw gains. 

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The market has started things cautiously this week reversing almost all of last week’s gains.  Laura and Stevie discuss this session which continued to get worse as the day went on and the two main catalysts that could impact markets through this week.  They look at today’s performance where almost all of the sectors have slipped, the stocks that were in focus, and what to expect across the final week of the month.

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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