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Morning Market Wrap – April 30, 2025
ASX 200 futures are up 28 points (+0.34%) at 8:30 am AEST.
Key Highlights:
- The S&P 500 has achieved its finest six-day gain since March 2022, recovering nearly all losses from post-Liberation Day.
- Market momentum was primarily driven by positive trade news, albeit with limited specificity.
- A busy day for quarterly earnings reports is anticipated, featuring results from companies like Champion Iron and Perseus Mining.
Overnight Market Summary (AEST)
Date: April 30, 2025, 8:21 am
Major Indices:
| Name | Value | % Change |
|---|---|---|
| S&P 500 | 5,561 | +0.58% |
| Dow Jones | 40,528 | +0.75% |
| NASDAQ Comp | 17,461 | +0.55% |
| Russell 2000 | 1,977 | +0.56% |
Country Indices:
| Country | Value | % Change |
|---|---|---|
| Canada | 24,874 | +0.31% |
| China | 3,287 | -0.05% |
| Germany | 22,426 | +0.69% |
| India | 80,288 | +0.09% |
Commodities (USD):
| Commodity | Value | % Change |
|---|---|---|
| Gold | 3,321.05 | -0.49% |
| WTI Oil | 60.42 | -2.63% |
Currency:
| Currency | Value | % Change |
|---|---|---|
| AUD/USD | 0.6385 | -0.70% |
Cryptocurrency:
| Cryptocurrency | Value | % Change |
|---|---|---|
| Bitcoin (USD) | 94,588 | +0.02% |
| Ethereum (AUD) | 2,814 | +0.15% |
U.S. Market Performance
- Stock Market Movement: U.S. stocks closed positively, with the S&P 500 recording its sixth consecutive gain, climbing 7.8% and nearly offsetting its losses from post-Liberation Day.
- Trade Developments: The market’s uptrend was largely attributed to positive trade news, such as tariff adjustments affecting the automotive sector.
- Macro Data Anticipation: Markets are in a holding pattern ahead of significant economic data releases and earnings reports from four major tech firms.
Notable Stock Updates:
- Amazon indicated it wouldn’t disclose the impact of U.S. tariffs.
- Pfizer cited tariff-related uncertainties discouraging domestic investment, projecting $150 million in extra costs due to tariffs.
- Coca-Cola is maintaining its price points even amidst rising input costs due to the trade conflict.
Economic Highlights:
- Spain’s GDP growth has slowed to 0.6% in the first quarter, remaining above the average for the Eurozone.
ASX Insights Today
- Alcoa is assessing its operations in Spain following a power outage.
- Champion Iron reported Q4 production figures slightly below analyst expectations.
- Perseus Mining achieved a production figure that exceeded consensus estimates for gold output.
Upcoming Focuses
- Market Trajectory: The ASX 200 has surged approximately 1.7% since the April 3 tariff announcement, influenced by strong performances across various sectors.
- Quarterly Earnings: A heavy day of earnings reports is expected, with significant market movements previously seen following varied results.
Broker Actions
- Catalyst Metals: Downgraded to Hold, target increased to $6.30.
- Sandfire Resources: Downgraded to Neutral, target raised to $10.90.
Key Events on the Economic Calendar (AEST):
- Today: Australia’s inflation rate data.
- Thursday: Chinese Manufacturing PMI.
- Friday: Reports from various European nations on GDP.
Stocks Trading Ex-Dividend:
- April 30: Bank of Queensland – $0.18.
- May 1: Om Holdings and others.
This highlights an active market landscape, with diverse movements across sectors and commodities driven by macroeconomic influences, earnings reports, and ongoing trade developments.
