CommSec Market Update

Wall Street lost ground for a second straight day as investors took a breather, with chipmakers falling on a weak outlook from Micron Technology. Elsewhere, selling continued in AI names, including Nvidia and Oracle. In commodities, copper rallied to a 15-month high after Freeport declared force majeure, while oil surged 3% to a seven-week peak on a sharp draw in U.S. stockpiles. Back home, Aussie shares are expected to fall on Thursday amid renewed inflation concerns.

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The ASX200 suffered its worst day in three weeks, falling 1% as August inflation came in hotter than expected at 3% annually. Higher electricity bills drove the headline figure, though underlying inflation eased to 2.6%. Banks led declines with Westpac down 3.5% amid job cuts news, while DroneShield continued its stellar run. Energy stocks bucked the trend on stronger oil prices. Tomorrow brings massive dividend payments from BHP, Rio Tinto and Telstra.

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Wall Street hit pause after a record-breaking run, with tech stocks under pressure as Fed Chair Jerome Powell gave no hint on future rate moves. Nvidia slipped following news of OpenAI’s $100 billion deal, while U.S. Treasuries declined for a fourth straight day on cautious Fed commentary. In commodities, oil rose $1 a barrel as the restart of Kurdish exports stalled, while gold surged to a new record high on safe-haven demand. Back home, Aussie shares are expected to snap a three-day winning streak ahead of key inflation data.

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Steve welcomes listeners to a Tuesday lift, as the ASX200 gains about 0.4 %. Mining and banks lead gains, while tech lags and consumer staples lose. The market feels the drag of a 25 % drop in Myer shares after a 30 % plunge in profits, plus a 5 % dip in Regis amid aged‑care fund fears. Tomorrow’s focus: August CPI data, US manufacturing figures, and dividends from Woodside Energy and Suncorp.

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Technology stocks led Wall Street to fresh record highs on expectations of two more rate cuts from the Fed this year. Nvidia also hit a record after unveiling a $100 billion investment in OpenAI, while Teradyne surged on broker upgrades and Apple gained on a product boost. In contrast, Tylenol’s maker, Kenvue, slumped on reports linking the drug to autism. Elsewhere, European markets were mixed, with automakers under pressure following a profit downgrade at Porsche. Back home, Aussie shares are set to open higher on Tuesday, with gold miners in focus following new record highs for the metal.

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The ASX200 rose 0.4% on Monday, marking a second straight gain, though momentum faded through the afternoon. Mining stocks led the advance, with iron ore and gold miners posting strong rallies, while Reece Limited jumped on a $250m buyback and Viva Energy Group Ltd sank on leadership changes. Investors now turn to key inflation data in Australia and the US plus a heavy week of dividend payouts worth $15bn.

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Wall Street sailed to fresh record highs, lifted by the prospect of more rate cuts. Technology stocks led the charge as Oracle rose 4% while FedEx gained on stronger-than-expected earnings. In commodities, oil prices slipped on supply concerns while gold and iron ore advanced. Back home, the ASX is set to open higher, with attention turning to RBA governor Michelle Bullock as she fronts a government panel.

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The ASX200 lifted modestly on Friday but not enough to prevent a third straight weekly loss, with the index slipping about 1% across five sessions. Despite US markets hitting fresh record highs after the Fed’s first rate cut of the year, local gains faded late in the week. Healthcare and financials led Friday’s improvements while energy and materials lagged, and standout movers included Telix Pharmaceuticals on the upside and Santos on the downside after its $30 billion takeover bid collapsed. Looking ahead, investors will focus on next week’s Australian inflation update and a wave of nearly $15 billion in dividends from major companies.

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Wall Street indexes notched record highs, led by Intel’s surge on news of a stake in Nvidia. The Russell 2000 small-cap index also climbed to its first record since November 2021, while CrowdStrike jumped 12% on upbeat long-term guidance. US jobless claims fell by the most in four years, adding to optimism. Meanwhile, the Bank of England held rates steady. Back home, Aussie shares are set to rebound from two-week lows, while the US dollar firmed as the Fed’s rate cuts failed to meet dovish expectations.

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Australian shares extended losses on Thursday, with the ASX200 down 0.8%. Energy stocks were the hardest hit after Santos tumbled nearly 12% on news a $30 billion takeover bid collapsed. CSL slipped below $200 for the first time since 2019, while Origin Energy and CBA also weighed on the market. In contrast, Nuix surged on a major contract win and uranium miners bounced back. Meanwhile, a weaker-than-expected jobs report adds weight to the case for an RBA cut later this year.

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