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Table of Contents
Tuesday Morning Wrap
As of 8:30 am AEST, ASX 200 futures are down 3 points (-0.03%).
Key Highlights:
- The ASX was closed on Monday, meaning today’s market will reflect price movements and events from two trading sessions.
- Last Friday, both the S&P 500 and Nasdaq surged, propelled by positive employment data and easing tensions involving Trump and Musk.
- The overnight trading session for major US indices was mostly stable, while key commodities—silver, copper, uranium, and lithium—marked notable gains.
Overnight Summary
Date: Tuesday, 10 June 2025, 8:20 am AEST
| Name | Value | % Change |
|---|---|---|
| Major Indices | ||
| S&P 500 | 6,006 | +0.09% |
| Dow Jones | 42,762 | 0.00% |
| NASDAQ Comp | 19,591 | +0.31% |
| Russell 2000 | 2,144 | +0.57% |
| Country Indices | ||
| Canada | 26,376 | -0.20% |
| China | 3,400 | +0.43% |
| Germany | 24,174 | -0.54% |
| Hong Kong | 24,181 | +1.63% |
| India | 82,445 | +0.31% |
| Japan | 38,089 | +0.92% |
| UK | 8,832 | -0.06% |
Commodities and Currency Overview
| Commodity | Value | % Change |
|---|---|---|
| Gold | 3,324.74 | +0.39% |
| Copper | 4.8831 | +1.46% |
| WTI Oil | 65.29 | +1.10% |
| Currency | ||
| AUD/USD | 0.6516 | +0.28% |
| Cryptocurrency | ||
| Bitcoin (USD) | 110,197 | +3.78% |
| Ethereum (AUD) | 4,065 | +4.50% |
US Sectors Performance
| Sector | % Change |
|---|---|
| Consumer Discretionary | +1.08% |
| Materials | +0.62% |
| Information Technology | +0.25% |
| Energy | +0.22% |
| Communication Services | +0.13% |
| Real Estate | -0.07% |
| Industrials | -0.09% |
| Health Care | -0.16% |
| Consumer Staples | -0.24% |
| Financials | -0.55% |
| Utilities | -0.66% |
Stocks to Watch
- Meta is reportedly in negotiations for a $10 billion investment in Scale AI.
- Walmart‘s CFO noted consumers are feeling financially strained, although spending habits remain stable.
- Microsoft hit a record high, showcasing a significant rebound since April.
- Apple is currently facing several challenges, including AI competition and tariff-related issues.
- Amazon is set to invest over $5 billion in new data centres in Taiwan.
- Lululemon shares fell after it revised its fiscal earnings guidance downwards.
Central Banks Update
- Citi predicts three rate cuts in the US within the year starting September.
- The ECB signals an end to rate cuts as economic policies settle.
- PBOC has implemented a surprise 1 trillion yuan reverse repo operation.
- Reserve Bank of India’s recent 50 basis point rate cut was larger than anticipated.
Trade Relations and Economic Insights
- US-China trade negotiations resumed, with a focus on rare-earth export tariffs.
- China’s CPI fell by 0.1%, maintaining a trend of deflation, while factory output prices have also dropped significantly.
- Japan recorded a smaller-than-expected decrease in GDP for Q1, and US May payrolls exceeded expectations.
ASX Today
- The ASX 200 will undergo a rebalance with Austal and Nick Scali added and Healius and Stanmore Resources removed effective 23 June.
- Commonwealth Bank has completed its divestiture of Bank of Hangzhou for approximately $940 million.
What to Watch:
- Keep an eye on commodities like uranium and lithium, which are exhibiting strong performance recently.
Economic Events Today
- Economic Calendar (AEST):
- 10:30 am: Australia Consumer Confidence (June)
- 11:30 am: Australia Business Confidence (May)
- 4:00 pm: UK Unemployment Rate (April)
Stay tuned for market updates and revisions throughout the trading day as we observe the movements and sentiments influencing the market landscape.
