CommSec Market Update

Brainchip Holdings (BRN) CEO, Sean Hehir speaks with Tom Piotrowski about growth in the Ai market, its plans to establish more partnerships, as well as its focus on building a large and sustainable company.

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 Aussie sharemarket finished the last day of the month on a lower note with the ASX 200 shedding 1%. All sectors lost ground. 

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 LimitedDespite a mixed lead from Wall Street overnight, the Australian sharemarket finished 0.4 per cent or 26 pts higher, to 7155.2. Banks were noteworthy winners and were supported by a lift in US treasury yields and a hike in the New Zealand interest rate. The big four banks all climbed by at least 1 per cent. The Tech sector on the other hand lost 3 per cent after a 2.4 per cent slide in the tech-heavy Nasdaq index dampened investor sentiment. At the close, 8 of the 11 sectors finished in positive territory.

Investors were encouraged by an easing of Covid restrictions in China as well as new stimulus being unveiled by Chinese authorities. Luxury good manufacturers posted solid gains with Louis-Vuitton owner LVMH, Hermes, Pernod Ricard and Burberry up by between 0.6% and 4.4%. While gains were broad-based on European exchanges, technology stocks led gains, up by 2%, but telecom fell 0.6%. The pan-European STOXX 600 index rose by 0.6%. The German Dax index lifted by 0.8% and the UK FTSE index gained 0.2%. In London trade, shares in Rio Tinto rose by 0.6% while BHP shares rose by 1.5%.

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 Aussie sharemarket kicked the week off on a strong note and finished at session highs after the ASX 200 added 1.45 per cent or 103.9 pts, to 7286.6. A strong lead from Wall St. on Friday caused the Tech sector to climb 4.6 per cent and post its first three-day winning streak in two months. A rally in base metals on Friday also supported a 2.2 per cent increase in the local mining sector. Of the 11 sectors, 10 finished in the green.

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.

There were expectations that inflation had peaked. Shares in computer hardware firm Dell rose 12.9% on better-than-expected earnings. Clothing retailer Gap lost 6.6% after trimming profit forecasts but shares in American Eagle Outfitters rose 4.3% despite similarly downgrading its outlook. The Dow Jones index closed higher by 576 points or 1.8%. The S&P 500 index rose by 2.5%. And the Nasdaq index gained 390 points or 3.3%. Over the week the Dow rose 6.2% and the S&P 500 rose 6.6% - both posting the biggest gains since November 2020. And the Nasdaq gained 6.8%.

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 S&P/ASX 200 commenced on a strong note and finished near session highs, adding 1.1 per cent or 76.8pts, to 7182.7. Energy stocks delivered the strongest gains and were led by an overnight rally in the oil price. The Financials sector finished 1.1 per cent higher, supported by a surge in the big four banks. Of the 11 sectors, 10 finished in positive territory.

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.

Shares of department store operator Macy's jumped 19.1% after it raised its annual profit forecast. And shares of discount store chains Dollar General (+13.7%) and Dollar Tree (+21.9%) both advanced following their annual sales forecast hikes. Chipmaker Broadcom's US$61 billion acquisition of VMware also boosted risk appetite. Broadcom's shares rose 3.6% with VMware's shares up 3.2%. The Dow Jones index closed higher by 517 points or 1.6%. The S&P 500 index rose by 2%. And the Nasdaq index gained 306 points or 2.7%.    

This podcast 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 podcast 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 podcast. 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 Tech sector was the only sector to finish in positive territory following a 1.5 per cent lift in the tech-heavy Nasdaq overnight. Falling coal and gold prices put pressure on material stocks today, causing the Materials sector to post its largest daily loss in a week. Both the Consumer Discretionary sector and the Health Care sector have fallen for the past four straight days.

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.

Investors absorbed the minutes from the last Federal Reserve meeting. Shares in Tesla rose 4.9% with Amazon up 2.6% and both stocks were key drivers of the S&P 500 index. Department store operator Nordstrom Inc. rose 14.0% on the back of upbeat annual profit and revenue forecasts. The Dow Jones index closed higher by 192 points or 0.6%. The S&P 500 index rose by 1.0%. And the Nasdaq index gained 170 points or 1.5%.

This podcast 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 podcast 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 podcast. 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.

Weighing on sentiment was a profit warning from Snapchat owner, Snap Inc., with its shares sliding 43.1%. Technology stocks were generally lower. Shares in apparel retailer Abercrombie & Fitch fell by 28.6% after posting a quarterly loss and cutting its annual sales and margins outlook. But shares in Zoom Video Communications rose 5.6% after it raised it full-year profit forecast. The Dow Jones index closed higher by 48 points or 0.2% after being down 515 points earlier. The S&P 500 index fell by 0.8%. And the Nasdaq index lost 271 points or 2.4%.

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.