Morning Report 25 Sep 24: US stock market rally propped up by Nvidia’s climb

Wall Street hit new record highs, led by the S&P 500, as mining stocks surged. However, U.S. consumer confidence dropped to its lowest in three years amid concerns about the labour market and broader economy. Meanwhile, China announced its largest stimulus since the pandemic, lifting oil prices by 2% and driving copper to a 10-week high. Locally, Aussie inflation is set to hit a 3 year low but don’t expect a rate cut. 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.