Oil slides 25%, Fed turns hawkish, RBA holds firm | Market Movements

SHARESIES · MARKET MOVEMENTS · 24 JUNE 2026 Jacki Neumann, Head of Capital Markets Note: Filmed Tuesday 23 June WHAT'S UP — US markets extended their run with the S&P 500 up 0.9% and Nasdaq climbing 2.4%, led by a 7.3% surge in semiconductors and an 18% jump in memory stocks. ↓ WHAT'S DOWN — Energy lagged, falling 6.6% for the week, as a preliminary US–Iran peace deal sent Brent crude down nearly 10% on the week and around 25% over the past month. ! BIGGEST SURPRISES — In Kevin Warsh's first meeting as Fed Chair, forward guidance was dropped and half of Fed members pencilled in a rate hike for 2026, pushing the USD to 12-month highs. ◎ WHAT TO WATCH — Thursday's US Core PCE for May (the Fed's preferred inflation gauge) now carries extra weight with markets pricing in hikes rather than cuts. ◈ BIGGER PICTURE — A peace framework in the Middle East and a hawkish Fed reset are the dominant forces; it all hinges on the durability of the Iran deal and Thursday's inflation number. Disclaimer: Sharesies Market Update is brought to you by Sharesies Australia Limited (ABN 94 648 811 830; AFSL 529893) in Australia and Sharesies Limited (NZ) in New Zealand. This video is general market commentary and educational in nature. It is not financial advice and does not take into account your personal objectives, financial situation or needs. Information is current at the time of recording and may be subject to change. We do not provide recommendations and nothing in this video should be taken as a recommendation to buy or sell any financial product. Investing involves risk. You might lose the money you start with. Past performance is not indicative of future performance. If you require personal financial advice, you should consider speaking with a qualified financial adviser. Our disclosure documents and terms and conditions, including a Target Market Determination and IDPS Guide for Sharesies Australian customers, are available on our relevant Australian or NZ website.See omnystudio.com/listener for privacy information.