Morning Report 11 Jul 25: Wall Street hits fresh record highs

Wall Street rallied overnight, with the S&P 500 and Nasdaq hitting fresh record highs as investors shrugged off tariff concerns. Delta Airlines boosted sentiment with an upbeat outlook, while Nvidia CEO Jensen Huang is now on track to surpass Warren Buffett in personal wealth. In corporate news, Nutella maker Ferrero is reportedly planning a $3 billion USD acquisition of Kellogg’s. Across the Atlantic, the UK’s FTSE also hit record highs, driven by strength in mining stocks. In commodities, iron ore jumped to multi-month highs on hopes of fresh stimulus from China, while oil prices slipped amid speculation that OPEC+ may pause supply cuts. Back home, the ASX is on track to end the week by resetting its own 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.