CommSec Market Update

The market has snuck into positive territory today but only slightly following a mostly flat performance.  Laura and Stevie reflect on the recent correction that the market has seen and the rebound that followed, continue the discussions around tariffs, and look at the mixed performance across the sectors.  Paladin Energy caught attention as did Aurora Innovation, and they look at what could move markets in the days ahead.

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Wall Street is retreating as concerns over trade tensions intensify, with the latest Trump tariffs on auto imports casting a shadow over global growth. U.S. and European carmakers are leading declines, while industrial metals are under pressure as investors question future demand. In commodities, oil prices are firming amid falling U.S. inventories, and gold is edging back toward record highs. Looking ahead, SPI futures indicate a flat start for the ASX 200 on Friday as markets assess the ongoing trade uncertainty.

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The market has had a solid run over the past five days but today snapped that winning streak closing slightly lower.  Laura and Stevie reflect on this positive run and the impact that tariff conversations may have played in the end to the rally.  They reflect on the performance of the sectors with energy and mining doing their part to keep the market aloft, and they talk through the attention grabbing stocks including Pro Medicus and Healius.

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US stocks fell sharply as President Trump prepared to announce auto tariffs, dragging down car shares. While banks appeared resilient against the latest tech-led sell-off, tech stocks faced heavy pressure, with Nvidia hit particularly hard. Meanwhile, CFO optimism in the US declined amid growing tariff uncertainty, though the US dollar gained on the same concerns. In Europe, UK Finance Minister Rachel Reeves trimmed spending plans, while cooling inflation provided a boost to the FTSE 100. In commodities, oil prices climbed 1% on a US crude draw, gold slipped as the dollar and bond yields strengthened, and iron ore firmed on rising Chinese demand. Looking ahead, Australian shares are expected to snap a five-day winning streak.

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The Aussie market has seen further gains today with most of the sectors in positive territory.  Laura is solo today unpacking the session and reflects on the federal budget with many of the announced measures unlikely to impact interest rate decisions, inflation data coming in softer than expected however did result in some choppy moves this afternoon.  Dividend payments continue to be a focus this week, and Laura discusses the stocks that caught attention including Paladin and Ramelius.

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Wall Street wavered overnight as investors digested Monday’s strong rally. US consumer confidence fell to a four-year low, weighing on sentiment. Meanwhile, KB Home shares slipped on affordability concerns, while UPS also declined amid worries over weak demand. In contrast, International Paper gained as brokers predicted a guidance beat. Elsewhere, Tesla’s market share in Europe continued to decline, despite growth in overall EV registrations. In commodities, oil prices fell after Russia and Ukraine agreed to a Black Sea shipping truce, while US copper hit a record high. Closer to home, tax cuts for Australians were announced in the Federal Budget and looking ahead, the ASX is expected to lift on Wednesday ahead of key inflation data.

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The Aussie market is clinging to gains after a choppy session, with the ASX 200 flirting with the 8,000-point mark before retreating. US markets provided some support, buoyed by optimism over a potentially softer approach to tariffs. Tech stocks led local gains, mirroring a strong Nasdaq performance, but with Australia's tech sector being small, it wasn’t enough to lift the whole market. Looking ahead, the federal budget and key inflation data could shake things up, but with the RBA unlikely to move on rates next week, investors remain in wait-and-see mode.

 

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US markets rose overnight, buoyed by hopes of softer tariff measures. Tesla rebounded 10%, marking its strongest rally since the post-election surge, while Chinese rival BYD surpassed Tesla in revenue. In contrast, Azek slumped following its deal with James Hardie. Bond yields climbed on reports suggesting narrower tariffs from the Trump administration. Across the Atlantic, European markets ended flat as investor caution prevailed. In commodities, oil climbed 1% as Trump’s proposed tariffs that buy Venezuelan oil and gas, gold slipped on a stronger US dollar and iron ore prices rose on the back of solid Chinese demand. Looking ahead, Australia’s pre-election budget could temper expectations for further RBA rate cuts and Aussie shares are expected to open higher on Tuesday, ahead of the federal budget.

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A flat start to the week for Aussie stocks, with investors keeping a close eye on inflation data and a wave of dividend payouts ahead. The ASX 200 is struggling to break past the 8,000-point barrier, despite last week's 1.8% gain—its best of the year. Financials are holding the market up, while tech and consumer staples are among the worst performers. . Investors are also watching James Hardie’s $14 billion takeover deal and upcoming US inflation data, which could impact expectations for interest rate cuts.

 

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Wall Street ended the week with modest gains, as the Dow Jones notched its biggest weekly advance in two months. Tech stocks led Friday’s climb, adding momentum to the broader market. Meanwhile, FedEx shares slumped after the company cut its full-year forecast, while Nike fell as tariffs weighed on revenue. In commodities, oil prices firmed for a second straight week, gold eased back from record highs, and iron ore slipped on concerns over Chinese demand. Looking ahead, Aussie shares are expected to open lower on Monday.

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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