Receive daily market insights gathered from overnight equity data, top stories, companies in the press and market information.
Good morning,
Our team compiles this daily market report from global sources to highlight key market updates and what they mean for your investment portfolio.
Overnight Market Highlights:
US markets finished mixed with little movement overnight as investors await further updates from Trump and the release of tonight's US CPI report.
Dow Jones S&P-500 Nasdaq
+ 0.30% + 0.00% - 0.40%
___________________ __________________ _________________
Modest opening gains this morning for Australian shares following a stronger-than- expected profit report from index heavyweight Commonwealth Bank in its half-year results.
Stock of Note:
Wellnex Life Impact Minerals Ovanti
(ASX: WNX) (ASX: IPT) (ASX: OVT)
0.080 AUD 0.010 AUD 0.018 AUD
+ 5.3% + 0.0% +0.0%
___________________ __________________ __________________
🇺🇸 US Market Overview:
- US stocks closed mixed but mostly unchanged after the head of the Federal Reserve stated there was no urgency to lower interest rates.
- The market saw weakness in Tech and Discretionary sectors, which was offset by strength in sectors like Staples and Energy.
- It was a relatively quiet session as investors awaited more clarity on Trump tariffs and US inflation data due later tonight.
Source: AFR, Hot Copper, Market Index
🇦🇺 Australian Market Overview:
- The S&P/ASX 200 (XJO) closed 1.2 points higher at 8,484.0.
- Among individual stock movements, healthcare giant CSL (ASX: CSL) stood out, dropping 5.0% as investors reacted unfavourably to the company’s first-half results.
- Eight of the ASX's 11 sectors closed higher, while just three were in the red. However, healthcare was a significant drag, dropping 2.9%, with CSL falling as mentioned.
- Australian dollar strengthened by 0.30%, now trading at 62.96 US cents.
Source: AFR, Morningstar
🗓️ Key Events This Week:
- Earnings season: CBA, AGL, Suncorp, Computershare, Evolution Mining, Amotiv, Arena REIT (sources: Motley Fool, CommSec).
- US consumer inflation (CPI) - tonight
- Testimony by Federal Reserve Chair Jerome Powell before the House Financial Services Committee - Wednesday
📈 Global Commodities Update:
- Iron ore (Singapore): up 1.1% to US$111.12
- Brent crude: up US$1.13 or 1.5% to US$77
- Gold (spot): down US$19.65 or 0.67% to US$2,898.07
- Silver (spot): down 23 US cents or 0.7% to US$31.84
- Copper (LME): down 0.96% to US$9,356.50
- Nickel (LME): down 0.35% to US$15,520
- Lithium carbonate (China spot battery grade): down 0.68% to 9,260 yuan
- Uranium (spot): down 0.69% to US$67.38
Energy was one of the top-performing sectors in the S&P, rising 0.76% as oil marked its third consecutive winning session.
Brent crude settled at its highest point in two weeks, fuelled by Middle East price hikes following tighter sanctions on Russia and Iran.
Iron ore gained for a second session as traders braced for potential supply disruptions due to tropical storms impacting the Pilbara.
Source: B*Resources, Hot Copper
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Source: Market Index
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