CommSec Market Update

Tesla shares rose by 9.8% after its quarterly results beat estimates. But shares of AT&T fell 7.6% after lowering its full-year free cash flow guidance. United Airlines' results disappointed, pushing the stock down by 10.2%. And Carnival shares dipped 11.2% after the cruise company announced it was selling US$1 billion of stock. The Dow Jones index rose by 162 points or 0.5% and the S&P 500 index rose 1.0%, posting its biggest three-day rally since May 27. The Nasdaq index also added 162 points or 1.4%.  

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The Australian sharemarket rose in the final 30 minutes of the session, with the ASX 200 up 0.5%. Woodside, Santos, Newcrest and Evolution released quarterly production results this morning.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness.  This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The Australian sharemarket is largely treading water on Thursday, with energy and mining stocks weighing most on the market. 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Netflix shares jumped 7.4% after the company predicted it would return to customer growth during the September quarter. Shares of streaming peers Walt Disney (+3.8%) and Paramount Global (+3.8%) both lifted. Shares of Nvidia rose 4.8% after the US Senate pushed forward a US$50 billion bill to bolster US chip manufacturing. And shares of Tesla added 0.8% ahead of its earnings result. The Dow Jones index rose by 48 points or 0.2% and the S&P 500 index rose 0.6%. The Nasdaq index added 184.5 points or 1.6%. 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The Australian sharemarket had its strongest advance in 3 1/2 weeks, with the ASX 200 lifting by 1.65% as all 11 sectors finished higher. Tech stock led the gains with Megaport lifting most, up 23% followed by Brainchip and Zip Co.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness.  This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The Australian sharemarket is lifting strongly on Wednesday, following a 3% lift for the S&P 500 and gains across all 11 sectors locally. Megaport, Zip and Brainchip are three of the ASX 200's strongest improvers. 

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

More companies reported better-than-expected earnings. After issuing quarterly reports, shares in toy company Hasbro rose 0.7% and oilfield services  provider Haliburton rose 2.1%. But despite better earnings, shares in Johnson & Johnson fell 1.5% with IBM down 5.2%. In this earnings season, analysts expect aggregate year-on-year S&P 500 profit to grow 5.8%, down from the 6.8% estimate at the start of the quarter, according to Refinitiv data. Shares in Boeing rose 5.7% on plans by private equity firm 777 Partners to buy up to 66 more Boeing 737 MAX jets. The Dow Jones index rose by 754 points or 2.4% and the S&P 500 index rose 2.8%. And the Nasdaq index rose by 353 points or 3.1%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The Australian sharemarket faded from early gains, with the ASX 200 sliding by 37.5 points or 0.56% to 6649.6. While nine of 11 sectors fell and US stocks declined overnight, it was the mining sector that weighed most.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The Australian sharemarket has had a choppy start to trade, following its strongest advance in three weeks on Monday and declines across US markets. A 5% lift in oil prices is helping push energy stocks up most.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

US sharemarkets were dragged down by weaker bank stocks and a fall in the Apple share price. Apple lost 2.1% on a Bloomberg report that said the company plans to slow hiring and spending growth next year in some units to cope with a potential economic downturn. The S&P financial sector fell by 0.5%. Shares in Bank of America ended flat after its earnings report. But energy rose by 2% on a rise in the oil price. Shares in Boeing ended flat after Delta Air Lines said it would buy 100 MAX 10 jets worth about $13.5 billion. After being up 356 points early in the session, the Dow Jones index closed lower by 216 points or 0.7%, the S&P 500 index lost 0.8%. And the Nasdaq index lost 92 points or 0.8%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.