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Weekly Wrap 20 June
Rising Middle East tensions pushed oil prices up over 10% this week, boosting local energy stocks while leaving broader markets lacking direction. Retailers continued to struggle amid soft consumer spending and delayed rate cuts, with Cettire (ASX:CTT), Accent Group (ASX:AX1) and KMD(ASX:KMD) Brands issuing cautious updates. Iron ore miners also remain under pressure as China’s mixed recovery continues to cloud the outlook.
In this week’s wrap, Grady covers:
- (0:27): the oil price surge and what it means for the market
- (1:05): volatility in the retail sector
- (2:38): pressures affecting the iron industry
- (3:58): how the market performed this week so far
- (4:43): the best and worst performing stocks and ETFs this week
- (5:15): economic news items to look out for.
