Morning Report 04 Jun: Commodity headwind to weigh on the ASX

Join Tom and Ryan as they analyse a challenging start to the new month on Wall Street, driven by a moderation in U.S. manufacturing and expectations for rate cuts by the Federal Reserve. The Dow Jones dipped by 0.5%, while the S&P 500 hovered just below the positive line, and the NASDAQ managed a modest gain of 0.3%. There was a fall in oil prices following a less-than-convincing promise from OPEC to adjust output over the next year. European markets showed mixed results, with a particular focus on the anticipation of an interest rate cut from the European Central Bank. In the local market, shares are set to open lower due to slipping iron ore prices, which fell by over 6%. Plus, the first quarter current account figures and business inventories are expected, which will influence tomorrow's GDP 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.See omnystudio.com/listener for privacy information.

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