Morning Report 14 Aug 24: NASDAQ closes up 2%, Dow adds 400 points on tame inflation data

Wall Street celebrates as investors react to the latest inflation figures, with softer US producer prices boosting expectations for a rate cut. Technology shares outperform, led by Alphabet as Google unveils its new Pixel smartphones. Starbucks sees record gains following the appointment of a new CEO, while Home Depot faces a weak sales outlook. In Australia, shares are expected to rise ahead of CBA’s earnings results, and the Reserve Bank of New Zealand may cut rates today. 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.