CommSec Market Update

U.S stocks advance off the back of debt ceiling progress with tech stocks leading the way. A softer U.S dollar points to improvements for mining and energy stocks today. And in the local markets we’re looking forward to a strong start today. 

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It’s the start of another month and Stevie and Laura are here for your closing market update! The market took a turn and closed in the green today, along with 8 of the 11 sectors. Flower company Lynch Group lifted after raising earnings expectations due to strong demand and Imugene fell 9% despite dosing its first patient with its cancer treatment during clinical trials. Ahead, the Annual Wage Review will be in the spotlight tomorrow as this could impact the next interest rate decision.

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Tom and Ryan examine U.S debt ceiling negotiations where Wall Street is retreating in response. Meanwhile tech shares continues performing strongly. In Australia the market took a hit off the back of higher than expected inflation numbers and weaker economic figures out of China. Plus Ryan looks into strong home price gains in May.

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Laura and Stevie are back with your Wednesday evening update and it's a big one! It was a bad end to the month with the market closing significantly down. Almost all sectors fell today with tech being the only one to rise ever so slightly. The inflation update today was higher than expected and over the month of May that market fell 3%. AI stocks continue to rally with Brainchip and Appen among the best. Finally, Paladin reassured investors it’s not aware of legislative changes that could affect the ownership of its mine.

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Tom and Ryan look to the U.S where markets remain pensive as some Republicans resist the debt ceiling deal. Meanwhile energy stocks are amongst the worst performers in Europe ahead of an OPEC meeting this weekend. Plus the latest commodities and AUD. 

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Stevie and Laura a back on this Tuesday evening for your market close update. Yesterday’s gains didn’t last long with the market closing in the red today in a cautious session ahead of key inflation data due tomorrow. Communication services performed best, this was boosted by a lift in Telstra shares and Paladin Energy fell most on speculation that it’s mine in Namibia may be nationalised. Lastly, US and UK markets reopen tonight after a long weekend.

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While Wall Street closes for a public holiday, markets await debt a ceiling handshake deal to pass through congress. Tom looks at a handful of European elections and how they may affect markets. In Australia Ryan keeps an eye on Wesfarmers who are hosting a strategy day. Plus the latest commodities and the AUD. 

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We’re back for another Monday evening update and the market has seen it’s strongest gains since April. 9 of the 11 sectors rose and the US debt ceiling has finally come to a tentative resolution. Miners and banks led the gains today and AI stocks remained in focus, topping todays winners list. IDP Education was today’s worst performer after competition ramped up due to a move by the Canadian government over the weekend. Finally, Laura and Stevie have a look at the week ahead. 

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Market relief after a breakthrough on the U.S debt ceiling issue overnight, and Tom looks at the ripple affects back here in Australia. Meanwhile A.I technology continues to drive markets higher with a focus on Intel. And Ford partners with Tesla to give customers access to EV superchargers. 

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The market is celebrating the end of the week with a positive close. Mining stocks have bounced back after five days of losses but tech stocks were the clear winner of the week. Fisher & Paykel were the 2nd worst today after a decline in sales and buy now, pay later provider Humm has been hit with a stop order from ASIC. Finally, a look towards the upcoming weekend next week

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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