Morning Report 23 Sep 24: ASX set to drop from record as traders brace for more RBA hawkishness

The Dow Jones closed at a fresh record high following a winning week, with investors still digesting the significant Fed rate cut. In company news, FedEx raised concerns about U.S. economic growth as their customers are shifting to cheaper and slower delivery options. Nike shares surged 7% after announcing a new CEO, while Intel shares climbed on reports of a Qualcomm takeover approach. Gold hit a fresh record high, and oil prices rose, though questions remain about the sustainability of its recovery. Locally, Australian shares are under pressure ahead of the RBA meeting and inflation data release this week. 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.