CommSec Market Update

The Aussie market is inching toward record highs despite geopolitical tensions, with the ASX 200 up nearly 0.9% on Friday. Energy stocks led gains, boosted by rising oil prices following concerns over the Russia-Ukraine conflict. A2 Milk soared 13% after announcing its first-ever dividend, while WiseTech Global plunged 12% due to a software launch delay and lower profit growth expectations. Resolute Mining rebounded slightly after resolving a tax dispute in Mali, and Adore Beauty revealed plans to expand into physical retail, challenging giants like Mecca and Sephora. Investors now look to upcoming inflation data and Black Friday sales to shape market momentum heading into December.

 

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Despite ongoing geopolitical tensions, U.S. and European markets have seen gains. In the U.S., "Trump trades" gained momentum, while jobless claims hit a seven-month low, signalling a robust labor market. On the corporate front, Nvidia's highly anticipated results revealed slowing revenue growth, raising concerns among investors. Meanwhile, oil prices climbed 1% amid the escalating Ukraine-Russia conflict, and iron ore futures rose on stronger Chinese demand. Looking ahead, Aussie shares are poised to end the week on a positive note, with investors keeping an eye on 25 AGMs scheduled for today.

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The ASX struggled today, slipping after an early rise of 0.4% faded, leaving markets unable to secure a fourth gain in five sessions despite a solid start to the week. Financials provided a bright spot with a modest uptick, while consumer discretionary stocks faced their second consecutive day of losses, offsetting gains earlier this month. Retailer Accent Group plunged nearly 12% due to disappointing margins, and fund manager GQG saw a 15% drop amid controversy surrounding Adani Group. On the global stage, Nvidia's earnings exceeded expectations but revealed slower growth forecasts and supply constraints, leading to a 2.5% dip in after-hours trading. Investors now await key speeches and manufacturing data for further market direction.

 

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After days of consolidation, the US dollar has reclaimed its spot in the winner's circle, as US yields rise despite ongoing geopolitical tensions. In company news, Target shares tumbled after the retailer slashed its profit outlook. At the same time, Ford announced plans to cut 14% of its European workforce, citing the shift to EVs and intensifying competition. Additionally, packaging giant Amcor gained on news of a potential merger. Meanwhile, oil prices dipped as US crude inventories increased. Looking ahead, Aussie shares are expected to open lower, ahead of Governor Michelle Bullock's upcoming speech, and the Aussie dollar remains under pressure due to the recovering US dollar.

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The Aussie market has hit 13 record highs this financial year.  Fresh off the back of one of them yesterday Laura and Stevie reflect on this and unpack the losses of today with most sectors seeing drops across the session.  They talk through the companies that caught their eye including Amcor, Webjet, and Nick Scali, Nvidia looks set to steal the spotlight ahead of releasing their earnings results, and they look to the upcoming news, AGM’s, and dividend payments.

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US stocks have rebounded, shaking off concerns over geopolitical tensions ahead of Nvidia’s much-anticipated earnings release. In contrast, European markets struggled, with stocks sinking as investors sought the safety of haven assets. Global bond yields also fell, reflecting the heightened demand for security. In the retail sector, Walmart surged to record highs, buoyed by optimism over strong holiday shopping trends, while Lowe’s reported a boost in sales thanks to hurricane recovery efforts. Meanwhile, iron ore prices hit a one-week high, driven by pre-holiday restocking activity. Looking ahead, Aussie shares are expected to dip after the ASX reached a record high on Tuesday.

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The market is up today to a fresh record high following a slow start the session this morning.  This marks four days of straight gains and the best day in around 3 months with 8 in every 10 stocks seeing gains.  Laura and Stevie unpack this performance in relation to the US market and look at the best performers with tech and financials seeing some standout moves.  Mining is back in positive territory, Elders is in focus, and they look at what to expect overnight.

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The NASDAQ and S&P 500 kicked off the week with gains, driven by a rally in Tesla shares. In contrast, Nike shares fell after the company flagged risks to its outlook, while healthcare stocks continued to struggle following recent sell-offs. Oil prices climbed nearly 3% amid escalating tensions in Ukraine, while gold surged on a weaker US dollar. Meanwhile, iron ore hovered near the key $100 USD per tonne mark, supported by strong demand. Looking ahead, Aussie shares are set to rise on Tuesday, buoyed by climbing commodity prices.

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Steve is solo today unpacking what was a good day overall following a slow start on the local market.  This makes a 3-day winning streak which he reflects on following the losses of last week both locally and in the US.  He unpacks the performance of each of the local sectors with mining stocks clawing back some of the recent losses, looks at some of the biggest movers including Dusk, Life360,and CSL Limited, and looks to what to expect as the week continues.

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Wall Street has pulled back as concerns over interest rates weigh on markets. U.S. pharmaceutical stocks, including Pfizer, declined following cabinet appointments by Donald Trump. Meanwhile, the "Magnificent 7" tech stocks faced pressure from rising bond yields. In commodities, aluminium prices surged after China cancelled export tax rebates, gold lost its shine following Donald Trump’s decisive election victory and oil dropped 2% on weaker Chinese demand. Looking ahead, Aussie shares are expected to dip, with energy stocks likely to drag the market lower.

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.