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Table of Contents
Morning Market Wrap – Friday, May 9, 2025
ASX 200 futures indicate a minimal increase of 3 points (0.03%) as of 8:30 am AEDT.
Key Highlights
- U.S. equities concluded with gains, while both the VIX index and gold prices have fallen.
- Former President Trump has unveiled a new trade deal with the UK.
- Today’s wrap is a concise version as Kerry is absent.
Overnight Market Summary
Date: Friday, May 9, 2025, 8:22 am (AEST)
Major Indices Performance (As of last close):
| Index | Value | % Change |
|---|---|---|
| S&P 500 | 5,664 | +0.58% |
| Dow Jones | 41,368 | +0.62% |
| NASDAQ Composite | 17,928 | +1.07% |
| Russell 2000 | 2,026 | +1.85% |
Country Indices Performance:
| Country | Value | % Change |
|---|---|---|
| Canada | 25,254 | +0.37% |
| China | 3,352 | +0.28% |
| Germany | 23,353 | +1.02% |
| Hong Kong | 22,776 | +0.37% |
| India | 80,335 | -0.51% |
| Japan | 36,929 | +0.41% |
| United Kingdom | 8,532 | -0.32% |
Commodity Prices (USD):
| Commodity | Value (USD) | % Change |
|---|---|---|
| Gold | 3,306.0 | +0.01% |
| Copper | 4.604 | +1.08% |
| WTI Oil | 59.91 | +3.17% |
Currency Information:
| Currency Pair | Value | % Change |
|---|---|---|
| AUD/USD | 0.6402 | -0.37% |
Cryptocurrency Performance:
| Cryptocurrency | Value (USD/AUD) | % Change |
|---|---|---|
| Bitcoin | 102,700 | +5.63% |
| Ethereum | 3,400 | +20.31% |
Miscellaneous Information:
| Item | Value | % Change |
|---|---|---|
| US 10 Yr T-bond | 4.373 | +2.29% |
| VIX Index | 22.48 | -4.54% |
U.S. Sector Performance
Date: Friday, May 9, 2025, 8:22 am (AEST)
| Sector | % Change |
|---|---|
| Consumer Discretionary | +1.35% |
| Industrials | +1.34% |
| Energy | +1.26% |
| Materials | +1.20% |
| Information Technology | +0.85% |
| Financials | +0.71% |
| Communication Services | +0.60% |
| Consumer Staples | -0.49% |
| Real Estate | -0.54% |
| Utilities | -0.86% |
| Health Care | -0.91% |
Overnight Market Context
- Major U.S. benchmarks saw gains, but ended below the highest points of the session.
- Trump presented a framework for a trade agreement between the US and UK, a significant milestone following the imposition of pre-emptive tariffs.
Notable Stock Movements
- Apple has signalled a potential decrease in reliance on Google due to evolving AI dynamics.
- Tech leaders are urging U.S. senators to lessen the regulatory pressures they face.
- Elon Musk’s xAI will utilise Tesla’s Megapack batteries for a new supercomputer.
- AppLovin’s shares surged due to strong Q1 results amidst a mobile gaming sale agreement.
- Toyota has reduced profit forecasts, citing tariff impacts and foreign exchange fluctuations.
- Ford announced a price hike of up to $2,000 on models produced in Mexico due to tariffs.
Central Banks & Economic Outlook
- The Bank of England has reduced interest rates, providing relief to borrowers.
- Global central bank policies are diverging as inflation and growth challenges are addressed by the Fed.
- Caution prevails within the Bank of Japan amidst current trade disputes.
Geopolitical & Trade Developments
- China calls for the US to lift unilateral tariffs before crucial trade talks.
- The recent fentanyl proposal from China was pivotal in facilitating diplomatic discussions with the US.
- Trump has reiterated his stance against lowering tariffs on China for trade negotiations.
Today’s ASX Updates
- Atlas Arteria’s CEO highlights a focus on strategic partnerships rather than acquisitions.
- Perpetual’s wealth division is estimated to sell for between AU$500 million and AU$700 million.
- A Webjet group shareholder is aiming for a 10% stake acquisition.
Key Events
Upcoming Ex-Dividend Dates:
- 9 May: Healius (HLS) – $0.413
- 12 May: Dominion Income Trust (DN1) – $0.579, NAB – $0.85
- 15 May: Autosports Group (ASG) – $0.035, Tamawood (TWD) – $0.11, United Overseas Australia (UOS) – $0.02, Wam Alternative Assets (WMA) – $0.027
Corporate actions today include:
- Dividend payments: None.
- Earnings report: Macquarie Group (MQG).
- AGMs: QBE Insurance, Waypoint REIT, Atlas Arteria, Ampol, Resolute Mining.
Economic Calendar (AEDT):
- China’s Balance of Trade, Exports, and Imports at 1 pm.
This summary encapsulates essential market movements and economic updates, enabling stakeholders to stay abreast of current trends and implications.
