CommSec Market Update

US stocks faced downward pressure as the deadline for Trump’s tariffs approached. Energy stocks led the declines, with Chevron’s earnings miss weighing heavily on the sector. Meanwhile, Apple shares also ended lower after the company reported disappointing iPhone sales. Technology stocks were among the hardest hit for the week, contributing to broader market losses. Commodity prices, on the other hand, are bracing for a potential resurgence in the US dollar. Looking ahead, the ASX is expected to slip more than 1%, as investors await Australian earnings reports and digest the latest data showing a 0.2% decline in Australian house prices for January.

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The Aussie share market is off to a roaring start in 2025, hitting fresh record highs. This week’s rally was fuelled by softer-than-expected inflation data, which increased the chances of an interest rate cut, as well as strong performances from the materials sector. Global markets had plenty of action too—Trump’s tariff threats shook investors, while the Fed held rates steady. Meanwhile, Apple’s earnings boosted tech stocks, despite a decline in iPhone sales in China. Locally, gold stocks shone bright as prices hit a record high, and companies like Origin and Magellan faced heavy losses. Looking ahead, investors are eyeing key economic reports, including U.S. inflation data, job figures, and local retail spending, as well as big tech earnings from Alphabet and Amazon.

 

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Wall Street advanced as strong earnings lifted sentiment, though tech stocks struggled. Meta surged on revenue beats, while Microsoft slipped on weak results. UPS plunged after announcing plans to cut business with Amazon, while Las Vegas Sands and IBM rallied on strong sales outlooks. Elon Musk remained upbeat about Tesla’s new EV models despite mixed earnings. Meanwhile, the European Central Bank has cut rates for the fifth time since June 2024. In commodities, US tariff threats capped oil prices, while gold hit a record high on safe-haven demand. Looking ahead, Aussie shares are poised to reach fresh record highs on Friday.

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Aussie stocks hit a record high despite Wall Street’s decline, with the market up 0.7% and on track for its best month since late 2023. Trump took to Truth Social to criticise the Fed for keeping rates on hold, blaming inflation on green policies and vowing to fix it through energy and trade reforms. Locally, softer-than-expected inflation data fuelled speculation of a rate cut in February, with all major banks now eon the bandwagon. Energy stocks rebounded after a rough start to the year, while consumer discretionary stocks outperformed despite cost-of-living pressures. Zip shares tumbled after weak ANZ results, while Lovisa faced pressure over a class action. 

 

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Wall Street’s recent recovery stumbled as technology stocks faced pressure, with the Magnificent 7 taking a hit on earnings day, led by Nvidia’s 6% decline. Starbucks showcased a turnaround with better-than-expected earnings, while ASML surged the most since 2020, buoyed by AI-driven demand. Meanwhile, the Bank of Canada cut interest rates, warning that tariffs could stoke inflation. Across the Atlantic, European markets soared to record highs, fueled by stronger-than-expected earnings. On the commodities front, oil prices dipped as rising US stockpiles weighed on sentiment. The US dollar strengthened as investors digested the Federal Reserve’s latest decision. Looking ahead, Aussie shares are expected to open lower on Thursday, dragged down by energy producers.

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The Aussie stock market rebounded strongly today, with inflation data fueling expectations of an imminent interest rate cut by the Reserve Bank. Softer-than-expected inflation figures pushed the likelihood of a February rate cut from 80% to 90%, boosting investor confidence and driving the ASX closer to record highs. Locally, all 11 sectors ended higher, led by tech, utilities, and property. Company news saw Star Entertainment surge 15% after selling its Sydney event centre, while Pilbara Minerals gained on strong lithium results. Investors now turn their focus to major U.S. tech earnings and upcoming central bank decisions, which could set the tone for markets in the days ahead.

 

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Wall Street staged a recovery, driven by a rebound in tech stocks, with NVIDIA surging 7% following Monday's AI-driven stock rout. Royal Caribbean also saw gains, buoyed by a positive profit outlook and its new river cruise launch. Meanwhile, President Trump's announcement of potential tariffs on computer chips, steel, and pharmaceuticals stirred market uncertainty, impacting oil prices as traders weighed the implications. Copper prices, however, rose in response to the tariff pledge. In Europe, shares closed at a record high as concerns over the tech sector eased. Looking ahead, Aussie shares are expected to rise, supported by NVIDIA's recovery from the DeepSeek shock. However, the Aussie dollar weakened amid fresh tariff threats, and upcoming inflation data could influence the RBA’s decision on potential rate cuts.

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Aussie stocks showed resilience today, despite a sharp sell-off in U.S. tech markets, where Nvidia's 17% plunge wiped $600 billion off its value. A Chinese startup, DeepSeek, disrupted the AI space with a cheaper, competitive chatbot, rattling global tech stocks and related sectors like energy. However, Australia’s smaller tech sector shielded local stocks from heavy losses. Energy and property sectors lagged, with Goodman Group sliding 8% due to concerns over its data centre investments. Winners included Sigma Healthcare, soaring 14%, and Telix Pharmaceuticals, climbing 3% on a U.S. expansion move. All eyes now turn to tomorrow’s quarterly inflation data, crucial for shaping RBA interest rate expectations ahead of a potential February cut.

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Wall Street faced a significant downturn as NVIDIA plunged 18%, leading the broader tech selloff sparked by China's cheaper AI model, DeepSeek. The disruption triggered a global revaluation of U.S. tech stocks, with NVIDIA losing more than $500 billion in market value—the largest single-company rout in market history. The tech-driven selloff pushed U.S. Treasury yields to multi-week lows as investors flocked to safe-haven assets. Meanwhile, China’s economic outlook dimmed further, with manufacturing activity hitting a five-month low. Amid the turbulence, Pepsi emerged as the most improved group in the consumer staples sector, climbing 4%. On the other hand, commodities saw declines, with oil prices dropping 3% ahead of China’s Lunar New Year holiday and gold retreating as investors liquidated positions. Looking ahead, Aussie shares are expected to dip on Tuesday, with the Aussie dollar under pressure as DeepSeek-driven concerns sap risk appetite globally.

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The market has had its best week of the year so far and Laura is solo today to recap that performance.  She discusses Trump’s potential Chinese tariffs and the impact that uncertainty around their implementation has had on markets, the performance of each of the sectors with consumer discretionary seeing the largest gains, and talks through the stocks that caught attention including Synlait Milk, 4DMedical, and Rio Tinto.

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