Wall Street recovers as buyers return to the market following yesterday's retreat. The transport sector saw significant gains, with Morgan Stanley's United Airlines surging after strong earnings, marking its biggest rise since 2020. Tech stocks remained flat after yesterday's plunge, with ASML, which led the chip stock decline, dropping another 7%. Meanwhile, the U.S. dollar hit a 10-week high on the Fed outlook and potential Trump win. Closer to home, Australian shares are expected to rise ahead of key jobs data.

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.

Wall Street recovers as buyers return to the market following yesterday's retreat. The transport sector saw significant gains, with Morgan Stanley's United Airlines surging after strong earnings, marking its biggest rise since 2020. Tech stocks remained flat after yesterday's plunge, with ASML, which led the chip stock decline, dropping another 7%. Meanwhile, the U.S. dollar hit a 10-week high on the Fed outlook and potential Trump win. Closer to home, Australian shares are expected to rise ahead of key jobs data.
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.

CommSec Market Update is the podcast that will help you to stay ahead of the trends with daily expert commentary as the market opens and closes.  Whether you are invested in the stock market, or just looking to get started, join the team from Australia’s leading online broker and follow the changes as they happen.



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.

CommSec Market Update is the podcast that will help you to stay ahead of the trends with daily expert commentary as the market opens and closes.  Whether you are invested in the stock market, or just looking to get started, join the team from Australia’s leading online broker and follow the changes as they happen.
 
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.

Insights, interviews and the latest news and information on investment markets from CommSec, Australia's leading online broker.

CommSec Market Update

Morning Report 17 Oct 24: Wall Street rotation is back as small caps rally

The ASX200 hit a new record high, up 0.7%, marking the second record this week, despite stronger-than-expected jobs data. The Australian labor market added 64,100 jobs, far exceeding expectations and dampening hopes for an imminent rate cut, now more likely in early 2024. While most sectors performed well, materials and tech stocks saw declines, though financials provided solid support, with AMP surging 17%. Uranium miners also rallied. Key events to watch include upcoming US and China economic reports, likely influencing tomorrow's market.

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.

The ASX200 hit a new record high, up 0.7%, marking the second record this week, despite stronger-than-expected jobs data. The Australian labor market added 64,100 jobs, far exceeding expectations and dampening hopes for an imminent rate cut, now more likely in early 2024. While most sectors performed well, materials and tech stocks saw declines, though financials provided solid support, with AMP surging 17%. Uranium miners also rallied. Key events to watch include upcoming US and China economic reports, likely influencing tomorrow's market.
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.

Market Close 17 Oct 24: No hope for interest rate cuts?

The Australian market pulled back slightly from its recent record high, following a decline in U.S. markets. Financial and property sectors were the only ones in positive territory, buoyed by strong earnings from U.S. banks. Bank of Queensland shares surged 6% despite mixed results, while Baby Bunting rose after brokers raised their price targets. The tech sector took a hit, driven by concerns over U.S. AI chip export restrictions. Meanwhile, energy stocks fell due to declining oil prices, and gold miners thrived as the price of gold neared record highs. Key economic data, including jobs growth, could influence the RBA's interest rate decisions in the coming months.



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.

The Australian market pulled back slightly from its recent record high, following a decline in U.S. markets. Financial and property sectors were the only ones in positive territory, buoyed by strong earnings from U.S. banks. Bank of Queensland shares surged 6% despite mixed results, while Baby Bunting rose after brokers raised their price targets. The tech sector took a hit, driven by concerns over U.S. AI chip export restrictions. Meanwhile, energy stocks fell due to declining oil prices, and gold miners thrived as the price of gold neared record highs. Key economic data, including jobs growth, could influence the RBA's interest rate decisions in the coming months.
 
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.

Market Close 16 Oct 24: Gold stocks sparkle despite share market decline

Wall Street ended lower yesterday, weighed down by a sharp decline in chip stocks, with ASML logging its largest one-day drop in 26 years. According to a BofA survey, global equity optimism is rising, with expectations of avoiding a recession. Meanwhile, Apple shares reached a record high following the announcement of a new iPad mini. Oil plunged 4% as concerns over Iran supply disruptions eased, and iron ore prices fell due to a weaker global steel outlook. Locally, Aussie shares are expected to retreat from record highs on Wednesday.

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.

Wall Street ended lower yesterday, weighed down by a sharp decline in chip stocks, with ASML logging its largest one-day drop in 26 years. According to a BofA survey, global equity optimism is rising, with expectations of avoiding a recession. Meanwhile, Apple shares reached a record high following the announcement of a new iPad mini. Oil plunged 4% as concerns over Iran supply disruptions eased, and iron ore prices fell due to a weaker global steel outlook. Locally, Aussie shares are expected to retreat from record highs on Wednesday.
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.

Morning Report 17 Oct 24: Wall Street rotation is back as small caps rally

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