Morning Report 12 Dec 24: Tech stocks surge as they celebrate the latest inflation report

Wall Street experienced a strong rally as investors reacted positively to U.S. inflation data showing the largest consumer price gain in seven months. The NASDAQ reached a record high of 20,000 points, buoyed by impressive year-to-date gains in stocks like Nvidia and Tesla. Meanwhile, the European Union agreed on a new sanctions package against Russia, underscoring geopolitical tensions. In Canada, the central bank aggressively cut interest rates to bolster its economy. Closer to home, the ASX 200 futures signalled a solid gain as investors focused on upcoming Australian jobs data, even as the Aussie dollar faced downward pressure. 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.