Morning Report 01 May 25: Wall Street survives growth scare

After disappointing economic growth figures, US stocks slumped in early trade, though falling long-term interest rates helped spark a late-session recovery. After hours, Microsoft shares surged on stronger-than-expected earnings, while Meta also gained following an earnings beat. In commodities, oil prices posted their sharpest monthly drop in four years, and industrial metals fell on signs of weaker Chinese manufacturing activity. Closer to home, the ASX is expected to open lower on the first day of the new month, even as the Australian dollar strengthened. 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.