Morning Report 01 Jul 25: New Wall Street records mark best quarter since 2023

Wall Street wrapped up the month, quarter, and financial year at record highs, posting double-digit gains over the past 12 months, fueled by progress on trade and growing expectations of lower interest rates. Financial stocks led the charge as major lenders passed the Federal Reserve’s stress tests, while Meta shares hit an all-time high amid an AI hiring blitz. However, energy stocks lagged as oil prices eased. In Europe, markets finished the month lower, weighed down by trade developments. Closer to home, the Australian share market closed out its best quarter since 2021, and home prices jumped in June to fresh record highs. 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.