Morning Report 28 Nov 24: Wall Street serves up a turkey ahead of Thanksgiving holiday

Wall Street saw sellers take charge as investors prepare for the Thanksgiving break. The bond market brought some relief, with interest rates falling as inflation figures came in softer than expected. Technology stocks struggled to maintain momentum, with the recent rally halting due to downbeat quarterly forecasts from Dell and HP, which weighed heavily on the sector. On a brighter note, retailers like Urban Outfitters and Target shone, delivering better-than-expected earnings and boosting sentiment in the retail space. Meanwhile, oil prices dipped following a surprise build in U.S. gasoline stocks, adding pressure to the energy sector. Looking ahead, the ASX is poised for a positive start on Thursday, with investors closely watching RBA Governor Michelle Bullock's speech, where she is expected to provide insights into the latest inflation report. 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.