PM 23 Sep 26: Market holds breath ahead of jobs data
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Why are investors holding their breath ahead of tomorrow’s Australian jobs data?
A listener production.
Why is the Aussie Share Market running on the spot so far this week?
And Aussie Job's data is the big ticket item to be watching tomorrow.
Good afternoon, I'm Steve Daglian.
I'm Laura Besserati.
It's Wednesday, the 23rd of September. Welcome to the Comsec Market Update.
Well, good afternoon, Stevie. The Aussie market, as you mentioned, running on the spot for most of this week. So today, uh, no different. It's been quite a choppy session. In fact, at our worst levels, we're down by close to a fifth of one percent. At our best, up by around 0.4%. But right now, heading into the close, we're up very marginally by around 0.1%. So we're very
How are US market movements and AI‑driven stocks influencing Australian sentiment?
Very small move higher, of course. On Monday we were higher by less than a point. Tuesday uh we're up by a third. And today that very small move once again. And I think investors are just holding their breath to wait and see what happens tomorrow.
Yeah, so technically we've avoided a decline so far this week. Uh, but you're right, the moves higher have been tiny. Um, we're only up by roughly a third of a percent over the past three days. So clearly a lack of enthusiasm this week and uh not too much direction for markets. Um, it does follow those three weeks of declines and the fact that we recently hit the lowest levels in about eleven weeks as well. So we're not too far from those levels. I think one thing which is working or helping markets at the moment is the fact that there are some hopes of US Iran diplomacy at a UN summit this week. And President Trump saying he had very good talks with Iran on the sidelines of the summit, supposedly three hours of talks with uh a US special envoy.
But at the same time, President Trump also threatened to annihilate Iran.
What impact are record‑high copper prices having on miners and dividend payouts?
But still I think uh the fact that there looks like there's signs that they're at least talking is helping oil prices down. decline for five straight days now. But on the flip side, to your point, I think uh all eyes remain on that jobs report out tomorrow.
Yeah, and the US hasn't been doing too much either to help the direction of our share market. In fact, it was a very mixed session on Wall Street. Last night we saw the S P five hundred end completely flat. The Dow Jones was down by 0.4%, while the Take Heavy Nasdaq was actually up by around half of 1% and actually closed at a record high, driven by many of the AI stocks. So not really giving us much direction, but as you know, Note there are plenty of things for investors to digest in the macro environment at the moment. And then uh just waiting for tomorrow's job starter as well, which could be, you know, the catalyst for investors to either further price in a rate hike from the RBA next Tuesday or potentially pull those expectations back just slightly.
But at the moment where things are sitting, uh including uh, you know, comments from Michelle Bullock yesterday, it looks like uh a rate hike is more likely. Yeah.
Yeah, so you're right in pointing out that uh tech stocks have been standing out in the United States though, as you point out. Um they've hit record highs uh this morning. They did the same yesterday as well, actually a record closing high for the first time in three months at that point.
Why are BHP’s massive dividend payments drawing investor attention today?
That seemed to inspire some buying in tech stocks yesterday locally for our market when we had the tech s uh sector lifting almost three percent. Today not quite as much enthusiasm there with the small sector locally uh falling. By about half a percent. We've also had some declines coming through from the utilities today, which are down by more than two, the energy sector, which is down unsurprisingly because of another dip in the oil price, and then the financials, which have taken a bit of a knock. But there have been some winners. We've seen uh the interest rate sensitive property trust lifting more than one percent, and the miners also lifting by around 1.6, while the defensive consumer staples have just edged a little higher at this point.
by around a tenth of one percent.
Yeah, they seem to have just crept into positive territory in afternoon trade because for most of the day we've only had those two sectors higher, including the materials and real estate.
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Chapters
7 chapters
1
Why are investors holding their breath ahead of tomorrow’s Australian jobs data?
0:02–0:50
2
How are US market movements and AI‑driven stocks influencing Australian sentiment?
0:50–1:47
3
What impact are record‑high copper prices having on miners and dividend payouts?
1:47–3:04
4
Why are BHP’s massive dividend payments drawing investor attention today?
3:04–4:20
5
What are the key reasons behind Maya’s mixed earnings and its outlook?
4:20–5:37
6
How are recent corporate news items like IDP Education’s rejected offer affecting the market?
5:37–7:19
7
What should listeners watch for in tomorrow’s jobs report and upcoming PMI data?
7:19–9:59
Speakers
2 identifiedMore from CommSec Market Update
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AM 21 Sep 26: ASX set to fall ahead of jobs figures this week
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