Morning Report 21 Aug 25: Tech-led slide continues after Fed minutes

US markets retreated as investors digested the latest Fed minutes, which reinforced the central bank’s focus on taming inflation. Treasuries extended gains following a strong bond auction, while the US dollar slipped after Donald Trump called for Fed governor Lisa Cook to resign. In company news, Target appointed an insider as CEO to spearhead its turnaround, TJX (the owner of TJ Maxx) beat expectations, and Estée Lauder moved to cut prices despite the drag from tariffs. Back home, Aussie shares are set to open higher, supported by rising oil prices and local investors will be watching earnings from Whitehaven Coal, Bega Cheese, Brambles, and Goodman Group. 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.