AM 28 May 26: Iran draft deal sinks oil, stocks muted

The Australian share market is poised to open lower as oil prices fell following draft peace talks between the US and Iran. Overnight, Wall Street remained muted with mixed momentum across sectors, while local inflation data yesterday supported rate hold expectations. Plus, are the Magnificent Seven stocks looking cheap again, or are investors piling back into bubble territory? James Gruber, Equity Market Strategist at CommSec takes you through all the key numbers. 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.