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Table of Contents
Tuesday Morning Market Wrap-Up
ASX Futures Indicate Positive Start
ASX 200 futures are up by 86 points (+0.99%) as of 8:30 am AEST.
Key Highlights
- Major US indices staged a recovery, reversing most of last Friday’s losses.
- Oil prices dipped as OPEC+ plans to unwind all output cuts implemented in 2023, while gold prices rose modestly, and US yields hovered near a three-month low.
- Key earnings reports and updates from companies like Austral, TPG, and Credit Corp are expected.
Overnight Market Summary (Tue 5 Aug 25, 8:23 am AEST)
Major Indices Performance
| Index | Value | % Change |
|---|---|---|
| S&P 500 | 6,330 | +1.47% |
| Dow Jones | 44,174 | +1.34% |
| NASDAQ Comp | 21,054 | +1.95% |
| Russell 2000 | 2,212 | +2.10% |
Country Indices
| Country | Value | % Change |
|---|---|---|
| Canada | 27,020 | -0.88% |
| China | 3,583 | +0.66% |
| Germany | 23,758 | +1.42% |
| Hong Kong | 24,733 | +0.92% |
| India | 81,019 | +0.52% |
| Japan | 40,291 | -1.25% |
| United Kingdom | 9,128 | +0.66% |
Commodities (USD)
| Commodity | Price | % Change |
|---|---|---|
| Gold | 3,374.64 | +0.35% |
| Copper | 4.4415 | +0.58% |
| WTI Oil | 66.24 | -1.61% |
Currency Exchange Rate
| Currency | Value | % Change |
|---|---|---|
| AUD/USD | 0.647 | +0.02% |
Cryptocurrency Market
| Cryptocurrency | Price | % Change |
|---|---|---|
| Bitcoin (USD) | 115,216 | +0.73% |
| Ethereum (AUD) | 5,748 | +6.29% |
US Market Highlights
Sectors
The US stock market saw notable gains across several sectors:
- Communication Services: +2.59%
- Information Technology: +2.15%
- Utilities: +1.74%
- Financials: +0.87%
- Consumer Staples: +0.42%
- Energy: -0.44%
S&P 500 Performance
The S&P 500 index rebounded strongly, recovering much of last week’s decline and approaching record highs. Key tech stocks also bounced back—Nvidia gained 3.6%, Meta 3.5%, and Alphabet 3%. Analysts warn of a potential downturn in the coming weeks due to mixed economic indicators and a changed market sentiment.
Stocks of Interest
- Berkshire Hathaway shares declined following a major write-down.
- Figma stock fell 27% after a strong debut.
- BP reported its largest oil discovery in 25 years.
Geopolitical and Economic Developments
- The EU is suspending countermeasures related to US tariffs for six months following negotiations, while rising tensions involve potential tariff increases on India.
- Switzerland is considering revising its trade agreements with the US in response to heightened tariffs.
Economic Notes
- Uncertainty looms over data integrity in US labour statistics after the dismissal of the Bureau of Labor Statistics director.
- Inflation in Switzerland exceeded expectations at 0.2%.
ASX Outlook (Tue 05 Aug 25)
Key Earnings and Updates
- Austal has raised its FY25 EBIT guidance to at least $100 million from $80 million.
- TPG expects pro forma EBITDA between $1.60-1.65 billion and plans to maintain its dividend at 18 cents per share.
- Credit Corp will release its FY25 earnings today, with anticipated revenue of $567.5 million.
Broker Recommendations
- Brambles has been downgraded to Neutral from Buy.
- Nickel Industries has also seen a downgrade with a reduced price target.
Economic Calendar for Today
- 11:30 am: ANZ-Indeed Job Ads (Jul)
- 11:30 am: Australia Household Spending (Jun)
- 12:00 am: US ISM Services PMI (Jul)
Corporate Events
Stocks trading ex-dividend today include:
- Australian Foundation Investment Company (AFI): $0.195
- BKI Investment Company (BKI): $0.04
For real-time updates and analysis, refer to our Live Blog on market movements and company announcements.
