CommSec Market Update

Steve and Laura reflect on the final trading session of 2025, which saw the Aussie market push higher to cap off a third consecutive year of gains. While the final week of trade was relatively subdued, a boost from the Technology and Financial sectors helped the benchmark index finish the year up nearly 6%. Reflecting on 2025, it was a massive year for the Materials sector, which surged 28% behind record-breaking runs in gold and silver, contrasting with a difficult period for Healthcare. Individual standouts included DroneShield, which finished as the year’s top performer, while HMC Capital and Bapcor were among those facing significant headwinds. Looking ahead, quarterly inflation data, central bank pivots from the RBA and the Fed, and the February reporting season all shape the outlook for the start of 2026. 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.

US stocks climbed while Treasury yields eased after inflation came in lower than expected. Micron surged on an upbeat outlook as the AI boom fuels demand for memory chips, while activist investor Elliott is reportedly building a $1 billion stake in Lululemon. In central bank news, the Bank of England cut interest rates following a tight vote. In the commodities market, gold hovered near record highs. Back home, Aussie shares are expected to cap off the final full trading week of 2025 on a strong note. 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.

A subdued and underwhelming session for the Aussie market, with stocks hovering around flat levels late in the day as energy names did most of the damage. Steve and Laura unpack weakness in Woodside after CEO Meg O’Neill announced her departure to take the top job at BP, mixed moves across the banks with CBA providing some support, and sharp falls among uranium stocks following a shock update from Boss Energy. There were brighter spots, including Bapcor jumping on a CEO change and Austal lifting after securing a $1 billion defence contract. Looking ahead, key US inflation data and several major central bank decisions are due in the next 24 hours. 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.

Wall Street fell as technology stocks retreated, with the Oracle–Blue Owl decoupling unsettling markets ahead of a looming wave of debt issuance. US Treasuries also slipped after dovish remarks from Fed Governor Christopher Waller. In commodities, silver surged to a record high above US$66 an ounce, while lithium prices jumped in China on plans to revoke mining licences. Back home, Aussie shares are expected to fall for a fourth straight session amid renewed rate-hike concerns. 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.

The ASX200 slipped about 0.2% for a third straight session, leaving the week down roughly 1.3%. Materials led gains, up 1.6% driven by Liontown (+12%) and IGO, while gold rose 4% on strong prices. Energy fell 1.4% as oil hit a five‑year low. US job growth slowed and unemployment hit 4.6%, trimming market expectations for an early Fed rate cut. Upcoming data includes US crude inventories, US jobs and retail figures, plus Australian population and national‑account releases, and AGMs for ANZ and Elders. 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.