Morning Report 08 May 25: Stocks rise as Powell says economy is holding up

Wall Street staged a late rally, lifting stocks as the Federal Reserve maintained interest rates, signalling a cautious wait-and-see stance. Meanwhile, Disney outperformed expectations with a strong earnings report, propelling its stock higher, while Alphabet's shares declined amid concerns over market share erosion and ongoing antitrust scrutiny. In commodities, oil prices slipped nearly 2% as US gasoline inventories rose, while iron ore reached a two-week high on optimism surrounding China's stimulus measures. Closer to home, the ASX 200 is poised for a flat open on Thursday as investors await ANZ’s earnings results. 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.