Morning Report 17 Dec 24: US tech stocks climb on Fed cut optimism

Wall Street has posted mixed results, yet chipmakers continued to surge. The NASDAQ reached a record high, driven by gains in Broadcom and Alphabet, while Nvidia entered correction territory after a significant rally. Meanwhile, Bitcoin has hit a record high, partly attributed to former President Trump's strategic reserve initiative. Bond yields remained flat ahead of the US Federal Reserve's interest rate decision. In Europe, German shares declined following Chancellor Scholz's loss in a confidence vote. Looking ahead, Australia is poised for a flat start to trading, as the ASX extended its losing streak to five consecutive days. 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.