Morning Report 18 Nov 24: Wall Street challenged by interest rate outlook

Wall Street has pulled back as concerns over interest rates weigh on markets. U.S. pharmaceutical stocks, including Pfizer, declined following cabinet appointments by Donald Trump. Meanwhile, the "Magnificent 7" tech stocks faced pressure from rising bond yields. In commodities, aluminium prices surged after China cancelled export tax rebates, gold lost its shine following Donald Trump’s decisive election victory and oil dropped 2% on weaker Chinese demand. Looking ahead, Aussie shares are expected to dip, with energy stocks likely to drag the market lower. 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.