Morning Report 28 Oct 25: Wall Street scales fresh record highs on US-China trade optimism

Wall Street climbed to record highs on renewed US-China trade optimism, with the S&P 500 on track for its first-ever close above 6,800 points. European markets also extended their winning streak, marking a third straight session of record finishes, while Argentine assets rallied following Javier Milei’s election victory. Elsewhere, Qualcomm shares surged after the company unveiled new AI chips aimed at competing with Nvidia. In commodities, copper reached a 17-month high on hopes of a trade deal, while gold slipped below $4,000 per ounce. Back home, Aussie shares are set to fall amid renewed interest rate jitters, after RBA Governor Michele Bullock warned that a 0.9% rise in core CPI would represent a material miss. 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.