Market Close 30 Jan 26: Rate hike ahead?

The Aussie market ended January with its third daily decline, down 0.7%. A 3% tumble in Materials led the drop as gold and silver prices pulled back following a historic 20% monthly rally. Sentiment was further pressured by speculation that Trump will nominate hawk Kevin Warsh as the next Fed Chair. Locally, Nine Entertainment jumped 4% after a massive $850 million pivot to acquire billboard giant QMS Media, while ResMed rose 4% on strong earnings. All eyes now turn to Tuesday’s RBA meeting, with a 70% chance of a rate hike looming. 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.