Market Close 20 Dec 24: The best and worst of 2024

In the last podcast of 2024, Steve and Laura reflect on a challenging December for the Aussie market, which has seen a 4.5% decline, making it the worst month of the year. The Federal Reserve's slower-than-expected pace of rate cuts rattled global markets, with Financials, consumer discretionary, a…

Morning Report 20 Dec 24: US stocks rise in defensive session as the US dollar gains

Wall Street is making a cautious recovery after experiencing one of the year’s steepest declines. The Dow Jones Index broke a 10-day losing streak, its longest since 1974, while the 10-year US Treasury yield climbed to its highest level since May, reflecting ongoing strength in the US economy. In c…

Market Close 19 Dec 24: Worst day in over three months for Aussie stocks

The Aussie share market faced a tough day, with the ASX 200 facing it's steepest decline in three and a half months—dragged down by a 2.5% fall in the US Dow Jones. Investor concerns stemmed from the US Federal Reserve’s revised interest rate outlook, signalling fewer rate cuts in 2025 than anticip…

Morning Report 19 Dec 24: Stocks and bonds drop after Fed’s hawkish cut

The US Federal Reserve has cut interest rates by 25 basis points but surprised investors by signaling a reduced forecast for future cuts. Meanwhile, the Dow Jones is on track for a 10-day losing streak, potentially marking its worst performance since 1974. In corporate news, Birkenstock shares are …

Market Close 18 Dec 24: Market treads water ahead of U.S. rate cut

The Aussie market closed flat today despite an optimistic start, as lunchtime weakness erased earlier gains. Investors are now eyeing the U.S. Federal Reserve's final interest rate decision for the year, expected to deliver a 25 basis point cut, marking three consecutive cuts since September. Marke…

Morning Report 18 Dec 24: Dow Jones heads for first 9-day slide since 1978

Wall Street has extended its losses as investors remain cautious ahead of the upcoming Federal Reserve decision, following strong retail sales data. The Dow Jones Index is on a nine-day losing streak, its longest since 1978. Energy shares weighed on the S&P 500 as oil prices declined, with Amentum …

Market Close 17 Dec 24: ASX ends nasty losing streak

Bitcoin soared to another record, while the Aussie stock market rebounded, snapping a tough five-day losing streak with the ASX rising 0.8%. Financial stocks led the gains, rising 1.1%, while energy underperformed as the sector remains the year’s weakest. Notably, tech platform PEXA surged followin…

Morning Report 17 Dec 24: US tech stocks climb on Fed cut optimism

Wall Street has posted mixed results, yet chipmakers continued to surge. The NASDAQ reached a record high, driven by gains in Broadcom and Alphabet, while Nvidia entered correction territory after a significant rally. Meanwhile, Bitcoin has hit a record high, partly attributed to former President T…

Market Close 16 Dec 24: Mining stocks tumble as China struggles

The Australian market continued its downward streak, with the ASX hitting a four-week low amidst weak Chinese retail data and falling commodity prices. China's slower-than-expected retail growth raised concerns over consumption and the country's ability to meet its 5% annual growth target, which im…

Morning Report 16 Dec 24: Wall Street consolidates ahead of Fed decision

Wall Street consolidates as investors await the Federal Reserve's upcoming decision. On Friday, the Dow Jones marked its seventh consecutive day of losses, its longest losing streak since 2020. Meanwhile, AI-related stocks surged on optimistic forecasts, with Broadcom reaching a historic milestone …