Hot Aussie inflation and hawkish Warsh lift hike bets | Market movements
About this episode
Jacki Neumann discusses recent market movements influenced by inflation data and interest rate expectations in Australia and the US.
SHARESIES · MARKET MOVEMENTS · Jacki Neumann, Head of Capital Markets at Sharesies Note: Filmed Monday 31 August ↑ WHAT'S UP — US indices edged higher, with the S&P 500 up 0.5% and the Nasdaq up 0.9%, while the ASX 200 added 0.4%, propelled by results including Qantas’ 4.8% jump on a $2.06 billion underlying profit, Coles rising 5%, and NEXTDC beating guidance with revenue up 16% on surging AI infrastructure demand. ↓ WHAT'S DOWN — The NZX 50 fell 1.5% in its worst week since May, snapping three weeks of gains. DroneShield sank 11% despite a 74% revenue jump as it swung to a $32.2 million loss, Air New Zealand posted a $336 million full-year pre-tax loss, and Xero drew a 70.6% protest vote against its remuneration report. ! BIGGEST SURPRISES — Australia's July CPI ran hotter than expected at 3.5%, with trimmed mean inflation at 3.6%, lifting the odds of an RBA hike by year-end to 78% from 67%. At Jackson Hole, Fed Chair Kevin Warsh’s tone was hawkish, pushing September US rate-rise odds from around 36% to nearly 60%. ◎ WHAT TO WATCH — The RBNZ meets Wednesday, with markets expecting a 25 basis point hike from 2.5%…
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