Morning Report 06 May 25: S&P 500 snaps nine-day winning streak after Trump’s Hollywood tariffs

Wall Street closed lower, with the S&P 500 snapping a historic nine-day winning streak. In company news, GoDaddy posted better-than-expected earnings, while Netflix ended an eleven-session winning streak amid market reaction to Trump’s proposed tariffs on foreign films. Meanwhile, US bond yields edged higher following stronger-than-expected data from the services sector. In commodities, oil fell to a four-year low due to rising OPEC supply, while gold prices climbed ahead of the upcoming US Federal Reserve meeting. Closer to home, Aussie shares are set to fall on Tuesday after ending a seven-day winning streak. 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.