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Morning Report 13 May 24: ASX to edge lower as investors brace for inflation updates

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US sharemarkets were mixed on Friday. Equities wavered and bond yields rose following a report that showed US consumer sentiment declined to a sixmonth low as shortterm inflation expectations picked up. McDonald's rose 2.6% on reports the burger chain is set to launch a US$5 meal deal in the US to lure pennypinching customers back in. Gen Digital surged 15.3% after the cybersecurity software company behind LifeLock and Norton posted strong earnings results. Nvidia gained 1.3% after Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker reported, a near 60% jump in April sales. Its shares were up 4.5%. Alphabet fell 0.8% following reports that OpenAI could unveil a competitor to Google Search.

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