Morning Report 6 Oct 22: US stocks ease after 2-day surge

The US sharemarket eased by ~0.2% on Wednesday following the strongest back-to-back rally in over two years. Oil prices hit 3-week highs after OPEC+ agreed to cut output in November by 2 million barrels per day.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (the Bank), and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. The information contained within this report is general in nature and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Any advice contained in this document is general advice only. Before making any investment decision, and before acting on any information in this report, you should consider the appropriateness and suitability of the information to your own needs and if needed, seek professional investment advice. Past performance is not a reliable indicator of future performance. For certain products, you should also consider the relevant Product Disclosure Statement or prospectus in deciding whether to acquire that product. CommSec, our employees and agents may receive commission and fees from transactions involving securities and other investments referred to in this report. We have effected or may effect transactions for our own account on securities and other investments in this report and may make investment decisions that are inconsistent with the recommendations or views in this report. Please see relevant CommSec disclosures at www.commsec.com.au/disclosures. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing and any opinions, statements or recommendations contained herein are subject to change without notice and do not reflect the view of CBA Group or any other employee within CBA Group.  We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither CommSec, the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

Data in this report is sourced from third party providers and is provided for information purposes only. Any reliance on this data when deciding to buy/sell stocks is at your own risk and CommSec is not liable for any losses you may incur. CommSec does not give any representation or warranty as to the reliability, accuracy or completeness of any third party material nor does it accept responsibility for errors or omissions in third party material. Charts display historical prices that may have been adjusted for corporate action activity. Adjusted prices may differ to actual historical prices when looking at a stock's course of sales or historical closing prices.