Morning Report 01 Aug 24: Wall Street posts best gains since February

Wall Street has reason to celebrate as the US Federal Reserve paves the way for a September rate cut. The S&P 500 and NASDAQ had their best days since February 22 of this year. Meta Platforms surged as sales surpassed estimates due to advertising growth, and oil prices jumped amid Middle Eastern tensions. Closer to home, Aussie shares are expected to start the month building on record highs. Home prices have risen for the 18th straight month, and the Greenback comes to the Aussie dollar’s rescue. 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.