AU reporting season recap | Jessica Amir on Ausbiz

Moomoo Market Strategist Jessica Amir shared her insights on the current earnings reporting season in a recent Ausbiz program. Jesscia points out the notable differences between the performance of US and Australian companies. Australian companies are generally reporting weaker-than-average profits, though there are exceptions. Ingham's (ASX: ING) and Treasury Wine Estates (ASX: TWE) have reported profits exceeding expectations, while property firms such as Centuria (ASX: CNI) and Mirvac (ASX: MGR) are also performing strongly.

Jessica further notes that miners and energy sectors, which make up 25% of the Australian market, have shown disappointing results. She attributes this to China's shift towards cleaner energy and technological advancements, which have led to weaker demand. Jessica advises investors to consider adjusting their portfolios to align with China's new energy focus, and highlights the performance of diverse mining companies like Fortescue (ASX: FMG), particularly in terms of demand for aluminum, nickel, and copper in China.

Turning to commodities, Jessica is optimistic about gold's prospects. She points out a historical trend where gold prices tend to reach new highs following Federal Reserve rate cuts. Additionally, growing investor interest in Gold ETFs and central banks increasing their gold reserves could further drive-up gold prices. Finally, Jessica discusses the upcoming announcement from Jerome Powell and the potential for rate cuts, suggesting that such moves could support equities despite any immediate market reactions.

Click the image to watch the full interview：