28
Table of Contents
Thursday Morning Market Wrap
ASX 200 futures are up 53 points (+0.62%) as of 8:30 AM AEST.
Overview:
- The major US indices closed slightly higher, overcoming early session declines.
- Key market drivers included emerging news regarding potential personnel changes in the US Federal Reserve, unexpected producer price data, ongoing discussions on tariffs, and mixed corporate earnings.
- Today, Australian investors can anticipate quarterly results from several mining companies, including Genesis Minerals, Gold Road, and 29Metals.
Let’s delve into the details.
Overnight Market Summary
Thu 17 Jul 2025, 8:29 AM (AEST)
| Major Indices Performance | Index | Value | Change |
|---|---|---|---|
| S&P 500 | 6,264 | +0.32% | |
| Dow Jones | 44,255 | +0.53% | |
| NASDAQ Composite | 20,730 | +0.25% | |
| Russell 2000 | 2,227 | +0.99% |
| Country Indices Performance | Country | Value | Change |
|---|---|---|---|
| Canada | 27,153 | +0.37% | |
| China | 3,504 | -0.03% | |
| Germany | 24,009 | -0.21% | |
| Hong Kong | 24,518 | -0.29% | |
| India | 82,634 | +0.08% | |
| Japan | 39,663 | -0.04% | |
| United Kingdom | 8,927 | -0.13% |
| Commodities (USD) Overview | Commodity | Value | Change |
|---|---|---|---|
| Gold | 3,350.85 | +0.78% | |
| Copper | 5.4869 | -0.27% | |
| WTI Oil | 66.64 | +0.17% |
| Currencies Overview | Currency | Value | Change |
|---|---|---|---|
| AUD/USD | 0.6528 | +0.00% |
| Cryptocurrency Overview | Cryptocurrency | Value | Change |
|---|---|---|---|
| Bitcoin (USD) | 119,396 | +1.74% | |
| Ethereum (AUD) | 5,180 | +10.06% |
| Miscellaneous | Item | Value | Change |
|---|---|---|---|
| US 10-Year T-Bond | 4.455 | -0.76% | |
| VIX | 17.16 | -1.27% |
US Sector Performance
| Sector Overview | Sector | Change |
|---|---|---|
| Health Care | +1.22% | |
| Real Estate | +1.07% | |
| Financials | +0.66% | |
| Industrials | +0.35% | |
| Materials | +0.30% | |
| Information Technology | +0.27% |
Market Developments
- US markets showed resilience after initially dipping, with the S&P 500 rebounding by 0.68% to close at its highest levels.
- Speculation surrounding former President Trump’s potential dismissal of Fed Chair Jerome Powell intensified market volatility.
- Significant movements in stocks were noted, such as Nvidia’s CEO selling $37 million in shares.
- Trump’s proposals regarding tariffs and his plans to facilitate increased access to private market investments for retirement plans were headline news.
Australian Market Insights
- Australian deal-making reached its most robust first half since 2021.
- Alcoa confirmed its Q2 EPS of $0.39, exceeding estimates.
- Genesis Minerals reported significant gold production, surpassing guidance but noted cost escalations.
- Gold Road’s production figures fell slightly short of expectations, indicating potential operational challenges.
What to Monitor Today
- Expect additional quarterly results from mining firms, with mixed early indications from Genesis and Gold Road.
- ASX 200 could see a bounce back following declines, influenced by drops in bond yields.
- The uranium sector continues to experience upward momentum, led by the Global X Uranium ETF.
Broker Actions
- Breville Group upgraded to Buy with a target of $35.50.
- Coles upgraded to Neutral; target maintains at $20.00.
- IGO downgraded from Buy to Neutral; target cut to $4.00.
- Plans for Virgin Australia initiated as a Buy with targets between $3.60 and $3.90.
Key Events
- Ex-dividend: WAM Global on Thu 17 Jul, $0.04.
- Economic Indicators (AEST): Expected announcements related to Japan’s Balance of Trade, Australia’s Unemployment rate, UK Unemployment, and US Retail Sales later today.
Stay tuned for further updates as the market evolves!
