Morning Report 10 Oct 25: ASX to fall as Wall Street rally stalls

Wall Street pulled back from record highs with the S&P 500 facing another heat check as the rally faltered. Albemarle shares rose after a broker upgrade on cash flow prospects, while rare earth stocks surged after China tightened its grip on global supplies. Delta Airlines reported robust demand heading into 2026, and PepsiCo announced a portfolio overhaul under activist pressure. In Europe, Ferrari suffered its worst single-day drop on record, overshadowing the launch of its new EV technology. In commodities, oil eased 1.5% following a Gaza ceasefire, copper climbed to a 16-month high, and gold slipped below $4,000 an ounce. Back home, Aussie shares are expected to end the week on the back foot, with the local dollar weakening against a stronger Greenback. 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.