Morning Report 23 Oct 24: Dow Jones wipes out 200-point loss on Turnaround Tuesday

Wall Street stalls as investors digest earnings results, while bond markets stabilise following a sell-off driven by expectations of slower U.S. rate cuts. In corporate news, tobacco giant Philip Morris hit record highs on surging demand for its Zyn brand. Additionally, General Motors saw its stock soar on steady profits and an improved full-year outlook, marking its best day of the year. Meanwhile, oil prices continued to rise as conflict in the Middle East escalated. Closer to home, Australia lags in the global fight against inflation, though Aussie shares are expected to rebound following their worst session since September 4th. 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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