The local market slipped for a third straight day, falling 0.6% as hopes for a US-Iran peace deal faded. With negotiations stalled and the Strait of Hormuz closed once again, oil prices have reclaimed the 100 USD mark for the first time in weeks. The index has now retreated 2.5% from its recent mid-April highs, erasing a significant chunk of the month’s recovery gains.

Energy stocks were the sole bright spot, jumping 3% on the back of soaring crude. Santos lifted 3.5% after maintaining its annual guidance, while Karoon Energy led the pack with an 8% surge. Cochlear plunged another 4% to hit a decade-low, extending its catastrophic 63% year-to-date decline. Retailer Temple & Webster also cratered 8% to a two-year low following a surprise leadership shake-up.

Steve Daghlian and Laura Besarati are Market Analysts at CommSec. Each episode, they break down the day's market movements and explain what the numbers really mean.

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.

See omnystudio.com/listener for privacy information.

US stocks surged on the ceasefire extension and strong earnings reports, but the ASX is poised to fall at the open as oil climbs back above $100 a barrel.

James Gruber, Equity Market Strategist at CommSec takes you through all the key numbers.

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.

See omnystudio.com/listener for privacy information.

The Aussie share market tumbled more than 1% on Wednesday, marking its worst day in five weeks, as investors reacted to ongoing uncertainty over US-Iran peace talks. The financial sector led the decline, with major banks falling between 2-2.5%, while Cochlear shares plunged 40% after a significant profit downgrade. Treasury Wine Estates was a rare bright spot, jumping 16.5% on a major business restructure and positive trading update.

Steve Daghlian and Laura Besarati are Market Analysts at CommSec. Each episode, they break down the day's market movements and explain what the numbers really mean.

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.

See omnystudio.com/listener for privacy information.