CommSec Market Update

Wall Street closed the week under pressure, with the Dow Jones snapping a three-week winning streak. Declining consumer confidence weighed on sentiment, while rising inflation expectations pushed interest rates higher, adding to market concerns. Meanwhile, in Australia, earnings season gained momentum, with retailers taking center stage. JB Hi-Fi’s latest earnings report drew investor attention. Commodity markets benefited from a weaker US dollar, lifting oil, gold, and copper prices. Looking ahead, the ASX is expected to start the week lower, while the Aussie dollar holds onto its weekly gains.

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The market didn’t quite make it to that record high today and the week has finished with a slight decline.  Laura and Stevie reflect on this ‘very interesting week’ which started with some significant losses but ultimately levelled out as the week went on.  The sectors saw mixed performance with utilities and healthcare seeing losses, and consumer staples and tech among the winners.  Dominos have made headlines today with investors boosting them into a winning position, and Collins Foods also gained attention.

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Wall Street continued to consolidate as investors awaited key employment reports, while trade war concerns eased despite ongoing threats from President Trump. In corporate news, Ralph Lauren surged the most in a year following an upbeat outlook, while Tapestry shares soared as Coach exceeded expectations. Philip Morris hit record highs, driven by strong demand for its Zyn nicotine pouches, while Honeywell shares fell amid activist pressure for a breakup. U.S. banks also reached new record highs. Across the Atlantic, the Bank of England cut interest rates, pushing UK shares to record levels. Meanwhile, ArcelorMittal posted its biggest jump since 2020 on strong earnings. In commodities, oil prices declined in choppy trade, gold's record rally paused, and iron ore rose due to concerns over Australian supply. Looking ahead, Aussie shares are expected to ease from record highs on Friday, while the Aussie dollar continues to climb as the U.S. dollar moderates.

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Laura is back with Stevie again today on a day where the market has seen its best performance in around three weeks recovering from the recent market volatility.  They reflect on the local market with the energy sector being the only one to see declines, discuss the stocks that saw the largest moves including Newscorp and Star Entertainment Group.  Gold prices continue to grow amid the market uncertainty and Laura and Stevie look at what to expect in the days ahead.

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US stocks are consolidating as markets still weigh the ongoing tariff discussions. Traders are looking past AI sector jitters, while bond yields tumble to multi-week lows following weak service sector data. In equities, Alphabet tumbled as slowing iCloud growth made it the worst performer in the S&P 500, while AMD slid after issuing a disappointing AI growth outlook. In contrast, Nvidia surged on the launch of its new AI data centre systems. Meanwhile, Novo Nordisk saw a boost as Wegovy sales doubled, driving strong growth. The US dollar moderated for a second consecutive day, while gold prices soared to new record highs. The ASX is set to rise at the open on Thursday, with investors anticipating REA Group's earnings report and the Aussie dollar surging on a weaker greenback.

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Stevie is going solo today as he recalls a week which has had some challenges.  Despite the recent months of strong performances, tariff conversations this week wiped out many of those gains, but today there was some positive moves with the local market clawing back some of those losses and only three sectors dropping.  Internationally there were earnings results which could impact the US market overnight, and Steve also discusses the stocks that caught his attention today.

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Wall Street rebounded as stock buyers stepped in, driving gains in the S&P 500, particularly in the energy sector. Investors are closely monitoring talks between President Donald Trump and Chinese leader Xi Jinping. In corporate news, Palantir Technologies surged on strong AI-driven demand, marking its biggest jump in a year. Meanwhile, Merck halted vaccine shipments to China, which negatively impacted its shares, and Pepsi explored ways to boost sales without resorting to price cuts. Estee Lauder shares tumbled after issuing a disappointing outlook, while Ferrari helped lift European markets. In broader market trends, the U.S. dollar weakened as new China tariffs took effect, while gold hit a record high and oil trimmed losses amid pressure from Trump on Iran. Looking ahead, Aussie shares are expected to open higher, supported by strength in energy stocks.

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The market has seen some recoveries today following the substantial tumbles of yesterday.  Tariffs continue to be the topic of conversation as delays are now in discussion, and these mixed messages have resulted in erratic market performances internationally.  Laura and Stevie look at the local market performance, with tech, banking, and mining recovering some losses, and overall around half of the sectors seeing gains.  Pro Medicus attracted attention today, as did Woolworths, and Nufarm.

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US share markets rebounded from recent lows on hopes of a resolution to tariff tensions, while US bond yields fell as investors sought safety. Manufacturing activity in the US expanded for the first time since 2022, offering a positive signal for the economy. However, European shares recorded their steepest daily drop of 2025, and the US dollar softened following a one-month pause on Mexico tariffs. In company news, Moderna led declines on the S&P 500, citing challenges from the latest tariff announcements. Meanwhile, gold surged to a record high, and oil rebounded from a four-week low. Looking ahead, Aussie shares are expected to open higher on Tuesday, with packaging giant Amcor set to release earnings. The Australian dollar also showed resilience, recovering from a five-year low.

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Laura and Stevie join us on a day where we erased almost half of last month’s gains in a single session.  In this ‘worst day in five months’ Laura and Stevie unpack this sea of red, and the part that Trump’s tariff decisions have played in the losses.  With all of the sectors in negative territory they unpack the performance across the board, and look at the Aussie dollar too which has seen huge drops alongside crypto.

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.

See omnystudio.com/listener for privacy information.