Morning Report 26 Aug 24: Powell's pivot fuels Wall Street rally

Investors celebrate as U.S. Federal Reserve Chairman Jerome Powell signals an imminent drop in interest rates, sparking a surge in U.S. stocks. Oil prices rise as concerns grow over Middle East escalations. A busy week lies ahead for local reporting seasons, with Nvidia kicking things off. Meanwhile, the Aussie share market remains resilient and is expected to begin the week on a positive note, supported by strength in oil and gold producers. 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.