CommSec Market Update

US markets retreated as investors digested the latest Fed minutes, which reinforced the central bank’s focus on taming inflation. Treasuries extended gains following a strong bond auction, while the US dollar slipped after Donald Trump called for Fed governor Lisa Cook to resign. In company news, Target appointed an insider as CEO to spearhead its turnaround, TJX (the owner of TJ Maxx) beat expectations, and Estée Lauder moved to cut prices despite the drag from tariffs. Back home, Aussie shares are set to open higher, supported by rising oil prices and local investors will be watching earnings from Whitehaven Coal, Bega Cheese, Brambles, and Goodman Group.

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The ASX 200 ended modestly higher after a choppy session, with investors digesting profit results and awaiting a key speech from US Fed Chair Jerome Powell. Heavy losses in miners and healthcare, including further weakness in CSL, were offset by strong gains in the big banks. James Hardie slumped on weak US demand, while Breville and Iluka also disappointed. On the upside, Magellan, Stockland, Lottery Corp and Transurban all posted strong results and lifted sharply.

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Wall Street closed lower overnight as jitters ahead of Jackson Hole and a tech-led slide disrupted the summer calm. In company news, Home Depot reported stronger sales as shoppers shifted to smaller projects, while Palantir tumbled 9%, marking its fifth straight day of losses. On the economic front, US housing starts climbed to a five-month high. Elsewhere, the Reserve Bank of New Zealand is widely expected to cut interest rates. Back home, Aussie shares are set to open higher on Wednesday ahead of a busy slate of earnings results.

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One stock accounted for almost of the declines across the ASX today.  Steve joins the podcast to reflect on the end to the recent winning streak bringing the first decline in a while.  He discusses the imminent US rate cut decision, the Aussie sectors with healthcare seeing substantial declines amid CSL shares dropping more than 16%.  Seek was one of the winners today following their latest results, and Steve looks to the day ahead with CBA set to go ex-dividend, and major US retail stocks expected to release their earnings data as the week continues.

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Wall Street held steady as investors brace for the Jackson Hole Symposium, while the US dollar climbed as Donald Trump hosted talks on Ukraine. Elsewhere, Private equity giant Thoma Bravo was reported to be in discussions to acquire software firm Dayforce, and the Trump administration is weighing a potential 10% stake in Intel. Solar stocks gained on the back of a favorable tax credit ruling, while US bonds rose as bets on a September rate cut remained intact. Back home, Aussie shares are set to retreat from record highs, with investors eyeing earnings results from Woodside Energy, BHP, and CSL.

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Wall Street eased from record highs as investors turned cautious ahead of the Jackson Hole Symposium. Meanwhile, UnitedHealth experienced a double-digit surge following Warren Buffett's investment, while Applied Materials declined due to a weaker outlook. Back home, Aussie shares are set to open lower on Monday after Friday’s record finish, with local investors bracing for a wave of earnings reports.

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The record high streak has continued for the Aussie market as it has now hit all-time best levels for 5 consecutive days.  Steve reflects on a week that has seen the ASX200 up around 0.7% with a fourth gain in 5 days and discusses the upcoming week which will be one of the busiest for earnings results.  Steve unpacks the latest on the tariff situation, the part that has played in the recent streak of strong performance, and the other factors contributing to investor confidence.  The majority of the sectors saw gains, Baby Bunting caught attention with a 38% rise, and Ampol was the standout on the local market.

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US stocks pulled back from record highs as investors digested fresh inflation data, with Treasuries sliding after wholesale price figures dented expectations for rate cuts. Meanwhile, the Trump administration is reportedly considering taking a stake in Intel, while Cisco signalled stronger AI-related sales. Oil prices climbed to a one-week high ahead of Trump–Putin talks, and the US dollar strengthened as producer prices surged. Back home, Australian shares are set to open flat ahead of earnings reports from Mirvac and Cochlear.

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The market has bounced back impressively today following the modest declines of yesterday and marking four sessions of setting record highs.  Steve reflects on the session where jobs growth and earnings reports have dominated, and how gains in US market overnight supported our performance.  Temple and Webster saw a lift today following better than expected earnings data, Westpac also saw a substantial gain, and Telstra dragged on the telecommunications sector.  Steve looks to the day ahead with inflation data set to gain attention alongside household spening.

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Wall Street scaled new record highs overnight as investors continued to anticipate interest rate cuts and with small-cap stocks outperforming their larger tech counterparts. Meanwhile, Scott Bessent suggested Nvidia and AMD’s agreements with China could serve as a model for other firms, while CoreWeave shares tumbled after widening losses from its AI buildout. On the other hand, Paramount shares soared 36%, and Bullish doubled in its NYSE debut. Back home, Aussie shares are expected to rebound on Thursday as investors brace for the release of the July jobs report, with Telstra’s earnings also in focus today.

The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.

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