CommSec Market Update

The US sharemarket extended its losing streak to a fifth straight day, as concerns of more aggressive rate hikes fuel recession fears.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Local shares have started the new week by extending its losing run to a third consecutive session. The ASX 200 slid 105 points or 1.6% to hit 3-month lows as commodity stocks were hit hardest

 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The US sharemarket fell by ~1.7% on Friday, taking the losses last week to more than 4%. Surging inflation, rising interest rates and recession fears have fuelled the declines.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

It was another weekly decline for the Aussie sharemarket with the ASX 200 now finishing lower for 4 off the past 5 weeks. Local investors returned from a public holiday and had a chance to digest the US Fed's recent rate hike.

 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The US sharemarket has tumbled in recent days, with the S&P500 down ~8% in eight sessions. The Federal Reserve raised rates by 75 basis points as widely expected, but flagged higher peak interest rates in 2023. The US central bank now expects interest rates to lift to ~4.6% next year (flagged ~3.75% in June). The Australian sharemarket will be playing catch-up with the rest of the world on Friday, with a challenging start to trade expected.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The ASX 200 dropped more than 1.5% as investors await the US Fed Reserve rate decision due early Thursday morning AEST. A reminder that the ASX will be closed on Thursday for a public holiday.

 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The US sharemarket fell by ~1% overnight, wiping out the prior day’s gains ahead of a highly anticipated supersized rate hike by the Federal Reserve. The market is expecting the US central bank to raise rates by 75 basis points (0.75%) for the third straight meeting.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Aussie shares have snapped a 2-day losing run with the ASX 200 enjoying its best daily performance since September 8. Coal miner New Hope (NHC) was a big winner following the release of its full year profits.

 

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

Allkem (AKE) MD & CEO, Martín Pérez de Solay, speaks with Tom Piotrowski about the company’s full year results. The lithium chemicals producer was formed in August 2021 from the merger of Orocobre Ltd and Galaxy Resources. Martín and Tom also discuss demand for lithium as well as the role it plays in global carbon reduction initiatives.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.

The US sharemarket rose by ~0.7% overnight, lifting in the final 60 minutes of the session in choppy trade ahead of this Thursday’s interest rate decision by the Federal Reserve.

This report is approved and distributed in Australia by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations are reasonably held or made as at the time of its compilation. The information in the report is subject to change without notice and do not reflect the view of CBA Group or any other employees within CBA Group. To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. The information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information should consider the appropriateness of the information, having regards to the individual's objectives, financial situation or needs, and, if necessary, seek appropriate professional advice. You can view the Terms and Conditions, Product Disclosure Statement, Best Execution Statement and Financial Services Guide, and should consider them before making any decision about our products and services. Past performance is no guarantee of future performance. Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945.  CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly Chi-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.