Morning Report 1 May 24: ASX to drop as hot US labour data sinks Wall Street

US stocks faced downward pressure overnight due to reinvigorated inflation concerns, leading to expectations of a similar trend in Aussie shares, anticipated to start May on a negative note after experiencing their worst month since October. Stronger wages data in the US fuelled fears of inflation and prompted a downturn in the stock market, which could result in a hawkish pivot by the US Federal Reserve at tonight's meeting. Tom and Ryan also discuss developments in commodity markets, such as fluctuations in oil and gold prices, along with Australian home price data and the ongoing BHP-Anglo American deal. 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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