CommSec Market Update

Wall Street looked past government shutdown worries, with the S&P 500 and Nasdaq hitting fresh record highs. Technology led the charge, boosted by Nvidia on renewed demand hopes. Meanwhile, Fed minutes showed policymakers remain cautious on rate cuts amid ongoing inflation concerns. In Europe, French stocks bounced back after recent turmoil. In commodities, gold shattered the $4,000 mark, while energy names slipped despite lower oil inventories. Back home, Aussie shares are set to edge higher on Thursday after New Zealand cut interest rates.

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The ASX200 edged lower, down about 0.1 % and marking a third consecutive losing session. Weakness came from tech, retail and telco stocks, while energy fell and materials gave modest support. Gold broke the $4,000‑a‑ounce milestone, driving a surge in the precious‑metal sector. Looking ahead, markets will watch the US Federal Reserve minutes, upcoming US crude‑oil inventory data and tomorrow’s Australian consumer‑inflation expectations.

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US stocks paused their record-breaking run as Oracle shares slid on reports its cloud margins were weaker than expected. Trilogy Metals jumped after the US government took a 10% stake, while Ford slipped following a fire at an aluminium plant. Constellation Brands topped sales forecasts on strong beer demand, and a New York Fed survey showed growing concern about the job market. Gold futures hit the $4,000 mark for the first time, and in New Zealand, the RBA is expected to cut rates later today. Back home, Aussie shares are set to open lower on Wednesday.

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ASX200 down ~1.4% as markets stay cautious amid US government shutdown and mixed tech news. Gold miners lead gains, with Greatland Resources +10% and gold sector up 20‑24% month‑on‑month. DroneShield still up 700% YTD despite 3% dip. Financials, materials, utilities marginally positive; consumer discretionary and telecom fall over 1%. Upcoming Fed, ECB, RBNZ speeches and NZ rate‑cut expected.

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Wall Street shook off an unsteady start to close higher, led by a powerful rally in chipmakers after AMD announced a new chip deal with OpenAI. Financials were also in focus, with Fifth Third agreeing to buy Comerica in the year’s biggest U.S. bank deal, while Tesla shares climbed after teasing an upcoming product unveiling. Overseas, French political turmoil pushed bond yields higher. In commodities, oil prices rose as OPEC+ increased output less than expected, and gold prices touched a fresh record high. Back home, Aussie shares are set to open higher on Tuesday, inching closer to record levels.

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The Aussie market started the holiday-shortened week quietly, trading with lighter volumes but briefly topping 9,000 points for the first time in six weeks before easing in the afternoon. Gold miners stood out as the precious metal hit fresh record highs, while Bitcoin also surged to a new all-time high above $125,000. Gains came through from energy stocks after OPEC raised output by less than expected, and rare earths and copper miners rose on strong demand and supply concerns. Lynas jumped 7% to its highest level since 2011, while the Brisbane Broncos surged 27% following their premiership win.

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Wall Street ended the week on a mixed footing as the government shutdown entered its third day. Healthcare led the gains, with pharma stocks rising for a second day, while Palantir shares slumped amid renewed doubts over the company’s technology. Elsewhere, oil was in focus after OPEC announced a smaller-than-expected production increase. Back home, Aussie shares are set to open modestly higher on Monday ahead of a public holiday in some states.

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The Aussie share market finished the week strongly, up 0.5% on Friday and 2.3% across the week, marking its best weekly performance since early May. Tech stocks led gains with Live360 and Block, Inc. among the top performers, while energy lagged as oil prices slipped to four-month lows. Eagers Automotive surged nearly 18% after announcing a major Canadian acquisition, while DroneShield climbed 50% for the week. Dividend payouts from CSL, A2 Milk, Origin, Domino’s and others also put extra cash in investors’ pockets, while attention now turns to US earnings season, a New Zealand rate decision and uncertainty from the US government shutdown.

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Stocks closed at record highs as investors shrugged off concerns about the government shutdown. Technology remained in focus with OpenAI’s valuation climbing to 500 billion US dollars, Intel surging 50% over the past month, and Tesla reporting a 7% rise in deliveries ahead of expiring EV tax credits. In commodities, oil fell 2% to a four-month low while copper touched a 16-month high. Back home, Australian shares are expected to dip on Friday from recent four-week highs.

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The ASX200 rose 1.2% to a one-month high, edging closer to 9,000 points in a broad rally led by gold, banks and healthcare. Gold miners surged as prices hit fresh records near US$3,900 an ounce, while CSL bounced almost 4% and the big four banks all advanced. Globally, investors weighed the US government shutdown, weaker jobs data and strong US pharma gains, while dividend season picked up with payouts from Breville, Seek and Treasury Wines.

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