Table of Contents
Monday Morning Wrap (05 May 2025)
ASX 200 futures reflect a positive start, rising by 32 points (+0.38%) at 8:30 am AEST.
Key Highlights:
- Major US indices continued their upward trajectory, with the S&P 500 achieving its ninth consecutive gain, fully recovering from recent losses.
- Optimism around US-China trade relations and robust US employment data contributed to market gains.
- Westpac’s half-year report revealed mixed results, falling short of analyst projections on key metrics.
Overnight Summary
Mon 05 May 2025, 8:23 am (AEST)
| Major Indices Performance: | Index | Value | % Change |
|---|---|---|---|
| S&P 500 | 5,687 | +1.47% | |
| Dow Jones | 41,317 | +1.39% | |
| NASDAQ Comp | 17,978 | +1.51% | |
| Russell 2000 | 2,021 | +2.27% |
| Country Indices: | Country | Value | % Change |
|---|---|---|---|
| Canada | 25,032 | +0.95% | |
| China | 3,279 | -0.23% | |
| Germany | 23,087 | +2.62% | |
| India | 80,502 | +0.32% |
| Commodities (USD): | Commodity | Price | Change |
|---|---|---|---|
| Gold | 3,239.34 | +0.09% | |
| WTI Oil | 58.29 | -1.60% |
Currency:
- AUD/USD is priced at 0.6452 (+1.07%).
| Cryptocurrency: | Cryptocurrency | Value | % Change |
|---|---|---|---|
| Bitcoin (USD) | 95,362 | -0.94% | |
| Ethereum (AUD) | 2,835 | -0.72% |
US Market Overview
The US market witnessed significant gains across various sectors, driven by strong performance in job creation and the resolution of trade uncertainties. The S&P 500’s performance over the past weeks, combined with solid earnings releases, enhanced investor confidence.
Notable Earnings Reports:
- Amazon: Reported Q1 earnings exceeding estimates, though second-quarter guidance was tempered by tariff concerns, leading to a slight decline in stock price.
- Apple: Posted solid revenue growth and a substantial share buyback announcement, despite concerns regarding sales in China.
Market Dynamics:
Investor sentiment was buoyed by solid economic indicators, including better-than-expected job growth. The US nonfarm payrolls increased by 177,000, with the unemployment rate holding steady at 4.2%.
ASX Today
- Gold Road continues negotiations with Gold Fields regarding a prospective transaction.
- Motorcycle Holdings: COO Michael Poynton has sold approximately 891,000 shares for personal financial reasons.
- SmartPay has received a new non-binding proposal at NZ$1.20 per share from an international investor.
- Westpac’s latest half-year results fell below analyst estimates, with a net profit after tax of $3.46 billion against a consensus of $3.51 billion.
Key Market Insights
- Westpac’s Performance: The bank’s results are slightly weaker than anticipated, which may impact shareholder sentiment and the broader banking sector.
- Market Trends: US markets demonstrate robust performance, with strong gains across multiple sectors. The airlines sector has seen particular strength, alongside resources and uranium stocks.
Upcoming Corporate Actions
Stocks Trading Ex-Dividend:
- Mon 5 May: Acorn Capital Investment Fund – $0.028; Qualitas Real Estate Fund – $0.01
- Wed 7 May: Resmed – $0.058
- Thu 8 May: Future Generation Australia – $0.037
No significant economic announcements are expected today.
With the positive sentiment in global markets and promising economic indicators, investors will be keen to watch how the ASX responds in the coming trading sessions.
This summary encapsulates the previous market activities and provides insights into current trading conditions and expectations for the ASX, while ensuring clarity and engagement for the readers.
