Morning Report 09 Sept 24: Wall Street slumps as figures reveal cooling jobs market

Wall Street slumps as investors worry over weakening job growth and debate the potential for larger rate cuts ahead of key inflation data. Technology stocks were hit hard, with the NASDAQ dropping 6% last week due to growth concerns. Apple’s annual iPhone event, launching the iPhone 16, begins today and is a key event to watch. Locally, the ASX 200 is expected to open 1% lower on Monday, with energy stocks in focus following a 2% decline in oil prices 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.