Hopes for lower interest rates pushed US stocks to record highs overnight, with falling yields providing a particular boost to technology shares. Economic data added to the dovish outlook, as first-quarter GDP was revised lower on soft consumer spending, while durable goods orders unexpectedly soared in May. The US dollar fell to a three-year low against the euro and sterling, and bond markets rallied as investors ramped up bets on potential rate cuts. Elsewhere, Nike shares rose ahead of its earnings release, while copper climbed to a three-month high on improved global demand. Closer to home, Aussie shares are expected to open on the front foot as real estate stocks trade ex-dividend.

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.