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Table of Contents
Thursday Morning Market Wrap
ASX 200 futures have taken a slight dip, dropping by 11 points (-0.12%) as of 8:30 am AEST, indicating a cautious start to trading.
Quick Summary
- The S&P 500 and Nasdaq both advanced to fresh all-time highs.
- Donald Trump has introduced a trade agreement with Vietnam, creating fluctuations in retail stocks.
- Gemlife, one of the largest IPOs of the year, is set to launch at 12:00 pm.
Overnight Summary
As of Thursday, July 3, 2025 (8:24 am AEST):
| Major Market Indices | Index | Value | % Change |
|---|---|---|---|
| S&P 500 | 6,227 | +0.47% | |
| Dow Jones | 44,484 | -0.02% | |
| Nasdaq Comp | 20,393 | +0.94% | |
| Russell 2000 | 2,226 | +1.31% |
| Country Indices | Country | Value | % Change |
|---|---|---|---|
| Canada | 26,870 | +0.05% | |
| China | 3,455 | -0.09% | |
| Germany | 23,790 | +0.49% | |
| India | 83,410 | -0.34% | |
| Japan | 39,762 | -0.56% | |
| United Kingdom | 8,775 | -0.12% |
| Commodity Prices (USD) | Commodity | Value | % Change |
|---|---|---|---|
| Gold | 3,362.49 | +0.72% | |
| Copper | 5.154 | +2.01% | |
| WTI Oil | 67.53 | +3.00% |
| Cryptocurrency | Crypto | Value | % Change |
|---|---|---|---|
| Bitcoin (USD) | 109,363 | +3.26% | |
| Ethereum (AUD) | 3,943 | +7.78% |
U.S. Markets Overview
Major U.S. indices posted gains, notably the S&P 500 and Nasdaq hitting all-time highs. Notable updates include:
- A shift back into technology stocks, with Tesla rising 4.9% after recent losses, and Nvidia also climbing by 2.5%.
- Oil prices surged by 3% following an announcement from OPEC regarding production adjustments.
- Retail stocks faced volatility after Trump’s announcement regarding the Vietnam trade agreement.
Key Economic Highlights:
- Hedge fund returns surged in June as the stock market flourished.
- Bond traders are anticipating today’s U.S. Non-Farm Payrolls report, with hopes that it will maintain the downward trend in yields.
Global Indices Summary
US sectors exhibited mixed results with the Energy and Materials sectors performing particularly well, while Utilities and Consumer Staples lagged behind.
| Sector Performance | Sector | % Change |
|---|---|---|
| Energy | +1.70% | |
| Materials | +1.33% | |
| Information Technology | +1.30% | |
| Utilities | -0.87% | |
| Health Care | -0.97% |
Spotlight on ASX Today
Look out for these highlights:
- The resource sector is expected to perform well due to a significant rise in oil prices and overall market positivity.
- Palladium prices have increased 5%, positively influencing mining stocks.
- Gemlife’s IPO is anticipated to attract attention as it represents a significant market listing, raising $750m.
- Domino’s shares are under pressure after a significant drop following its CEO’s abrupt departure.
Broker Recommendations
- ALS has been initiated with a Buy recommendation and a target of $19.45 (CITI).
- Bellevue Gold has been downgraded to Neutral, with a target cut to $0.90 from $1.00 (JPM).
Important Events Ahead
- Today’s notable economic releases include Australia’s Balance of Trade at 11:30 am and the U.S. Non-Farm Payrolls due at 10:30 pm.
This brief provides an overview of the significant shifts and expectations for today’s market activity, with particular focus on resource strength and key economic indicators affecting market sentiment.
