CommSec Market Update

The Australian sharemarket fell by 1% and lost ground for a third day as 10 of 11 sectors declined. The ASX 200 was down as much as 2.5% and hit a three-month low this morning, before gains from Chinese markets and signs of a calmer start in the US and Europe tonight seemed to settle nerves. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 S&P500 slumped by 3.2% overnight, sliding to ~13-month lows as markets continue to focus on rising rates in coming months and 40-year high inflation.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 Australian sharemarket fell by 1.2% on Monday, after sliding for three straight weeks. This follows rate hikes in Australia, the US and UK last week. Eight of 11 sectors lost ground today. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 US sharemarket fell for a fifth straight week, with investors continuing to react to rising interest rates. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 Australian sharemarket fell by 2.16% on Friday, the largest tumble since February. All 11 sectors lost ground for just the ninth time this year as interest rates rose in Australia, the US and UK this week to fight off inflation. 

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 US sharemarket has had one of its largest u-turns since the pandemic started, with the S&P500 slumping by 3.6% after rising by 3% a day earlier. Markets let out a sigh of relief yesterday after the Federal Reserve Chair Jerome Powell seemed to rule out raising rates by 0.75% at a time. Overnight, all sectors and 97% of stocks on the S&P 500 fell.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 Australian sharemarket rose by 0.8%, snapping a three-day losing streak. The Federal Reserve raised rates by 50bps but ruled out more aggressive rate hikes.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 US sharemarket rose by 3% following the Federal Reserve ruling out 75bps rate hikes in coming months. The US central bank did raise rates by 50bps this morning however, its largest hike since 2000 due to surging inflation. While a significant move higher, this was widely expected by markets.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 Australian sharemarket eased by 0.16%, slipping for a third day in cautious trade ahead of an expected rate hike in the US tomorrow morning. ANZ handed down its half year results, mining stocks fell and a number of retailers updated investors at a conference.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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 US sharemarket edged higher in cautious trade ahead of the highly anticipated decision on US interest rates tomorrow morning. Plenty of companies released quarterly results including Airbnb, AMD and Starbucks.

This report is approved and distributed in Australia by 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 and 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.  Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing. We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness. 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.