Morning Report 03 Dec 24: US technology stocks lift Wall Street to new record highs

Technology stocks are back in favour, driving Wall Street higher on the first trading day of the new month. Apple reached a fresh record high, while Super Micro Computers led gains in the Semiconductor Index. Meanwhile, Cyber Monday and robust online sales have provided a boost to the US retail sector. In Europe, political uncertainty, particularly in France, weighs on investor sentiment. Commodities were a key focus on the ASX, with a stronger US dollar and encouraging Chinese factory data supporting iron ore prices. Looking ahead, futures indicate a solid start for Australian shares, with the ASX200 poised to challenge record highs. 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.