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Market Overview: Tuesday Morning Wrap
ASX 200 futures are down by 8 points (-0.09%) as of 8:30 AM AEST. To summarise the current market landscape:
- The US market remained closed for Labour Day, meaning all US-related data reflects last Friday’s performance.
- European markets exhibited an upward trend, with the Stoxx 600 rebounding after a 2% decline over the previous week.
- Gold and silver prices continue to rise, with gold approaching the US$3,500 mark and silver surpassing US$40 for the first time since October 2011.
Overnight Summary (2 September 2025)
Major Indices Performance:
| Name | Value | % Change |
|---|---|---|
| S&P 500 | 6,460 | -0.64% |
| Dow Jones | 45,545 | -0.20% |
| NASDAQ Composite | 21,456 | -1.15% |
| Russell 2000 | 2,366 | -0.50% |
Country Indices Highlights:
| Country | Value | % Change |
|---|---|---|
| Canada | 28,564 | +0.46% |
| China | 3,876 | +0.46% |
| Germany | 24,037 | +0.57% |
| Hong Kong | 25,617 | +2.15% |
| India | 80,364 | +0.70% |
| Japan | 42,189 | -1.24% |
| United Kingdom | 9,196 | +0.10% |
Market Implications
- With the US markets closed for Labour Day, European indices provided insight, showing resilience despite previous losses.
- The S&P 500 and Nasdaq futures reported modest gains, indicating a potentially stable opening upon the US markets’ re-opening.
- Notably, the Stoxx Aerospace and Defence Index surged over 2% following a significant UK government contract announcement for warships.
- Analysts suggest that European stocks could experience upturns as the year closes, backed by strong recovery signals in Chinese markets.
Commodities Performance
- Gold reached a record close at US$3,476.11/oz, a 0.81% increase.
- Silver also performed strongly, surging 2.5% to above US$40/oz.
- In the oil market, WTI recorded a 0.88% increase, settling at US$64.63, reflecting ongoing geopolitical tensions.
Currency and Cryptocurrency Update
- The AUD/USD exchange rate rose slightly to 0.6554.
- In the cryptocurrency space, Bitcoin saw a drop of 1.14% to US$107,700, while Ethereum fell 4.43% to A$6,502.
Key Economic Indicators
- China’s private manufacturing PMI increased to 50.5 in August, surpassing expectations and signalling improved economic conditions.
- Conversely, the UK’s manufacturing PMI declined to 47, reflecting weakened demand and rising costs.
ASX Insights for Today
- ANZ is finalising a workforce reduction plan that could see up to 5,000 jobs lost, part of a larger corporate restructure initiative.
- Australia is set to experience its fourth-largest wheat harvest following significant rainfall, positively influencing agricultural stocks.
- Collins Foods reported a 6.7% sales increase in its latest trading update, maintaining guidance for robust NPAT growth.
What to Watch Today
- Interest remains high in gold and silver, given their recent performances.
- Graincorp’s stock dynamics may change based on the wheat harvest forecasts.
- Following a significant rise, Collins Foods is set to report on further sales momentum.
Broker Moves and Upcoming Economic Data
- Broker data updates are pending.
- Notable economic events today include Eurozone inflation figures and the US ISM Manufacturing PMI report.
This summary encapsulates the latest developments across global markets and key indicators, providing insights into what investors may expect moving forward in the financial landscape.
