Morning Report 05 Dec 24: US stocks hit record high buoyed by tech rally

Wall Street is reaching new record highs, fueled by a surge in technology stocks, as optimism grows about the economy. Federal Reserve Chair Jerome Powell expressed confidence in the strength of the U.S. economy, adding to the positive sentiment. In company news, Salesforce shares soared following an earnings report that exceeded revenue expectations, while Foot Locker shares plunged due to a bleak holiday outlook. Across the Atlantic, Germany's DAX index closed above the 20,000-point mark, highlighting resilience in European markets despite political challenges. Meanwhile, iron ore prices rose on hopes of Chinese stimulus, contrasting with a decline in oil prices as markets anticipate the upcoming OPEC decision. Looking ahead, Aussie markets are expected to open flat. The Aussie dollar, however, has fallen to a four-month low after weaker-than-expected economic 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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