Morning Report 26 Nov 25: US stocks rally on increased hopes for a December rate cut

Wall Street extended its rebound overnight as investors looked ahead to the Thanksgiving holiday and grew more confident in a December rate cut. US Treasury yields eased, with the 10-year slipping below 4% as Hassett emerged as the frontrunner for the Fed’s top job. In stocks, Nvidia fell as its rivalry with Google intensified, while Abercrombie's stock surged despite a general retail pullback. In commodities, oil declined as ongoing Ukraine–Russia talks raised expectations of improved supply. Back home, Aussie shares are expected to extend gains on Wednesday, with key inflation data and New Zealand’s rate decision in focus. 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.