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Thursday Morning Market Wrap
ASX 200 futures have risen by 31 points (+0.35%) as of 8:30 am AEST.
Key Highlights:
- Significant gains were observed in major US indices, driven by strong performances from Alphabet (+9.0%) and Apple (+3.8%).
- The positive sentiment followed a court ruling on antitrust issues that was perceived as milder than anticipated for both companies.
- Gold prices reached new all-time highs, contrasting with a downturn in oil prices amid speculation of potential OPEC production increases.
Overnight Summary (Thu 04 Sep 25):
| Major Indices | Value | % Change |
|---|---|---|
| S&P 500 | 6,448 | +0.51% |
| Dow Jones | 45,271 | -0.05% |
| NASDAQ Composite | 21,498 | +1.02% |
| Russell 2000 | 2,350 | -0.10% |
| Country Indices | Value | % Change |
|---|---|---|
| Canada | 28,751 | +0.47% |
| China | 3,814 | -1.16% |
| Germany | 23,595 | +0.46% |
| Hong Kong | 25,343 | -0.60% |
| India | 80,568 | +0.51% |
| Japan | 41,939 | -0.88% |
| United Kingdom | 9,178 | +0.67% |
| Commodities (USD) | Value | % Change |
|---|---|---|
| Gold | 3,560.2 | +0.72% |
| Copper | 4.5408 | -0.86% |
| WTI Oil | 63.77 | -2.74% |
| Currency | Value | % Change |
|---|---|---|
| AUD/USD | 0.6542 | -0.03% |
| Cryptocurrency | Value | % Change |
|---|---|---|
| Bitcoin (USD) | 112,112 | +1.03% |
| Ethereum (AUD) | 6,828 | +3.54% |
US Sector Performance:
| Sector | % Change |
|---|---|
| Communication Services | +3.76% |
| Information Technology | +0.82% |
| Consumer Discretionary | +0.43% |
| Consumer Staples | +0.02% |
| Financials | -0.16% |
| Utilities | -0.20% |
| Real Estate | -0.20% |
| Health Care | -0.41% |
| Industrials | -0.48% |
| Materials | -0.53% |
| Energy | -2.30% |
Market Insights:
- The US stock market saw a resurgence, buoyed by an end to a two-day slump for the S&P 500, with strong support from technology stocks.
- Antitrust decisions about Google were less daunting than expected, meaning there’ll be no forced divestiture of Chrome, which positively impacted investor confidence.
- Demand for gold surged, with predictions suggesting prices could reach $4,250 amid rising inflation concerns, as per JPMorgan.
Outlook for ASX:
- ASX is expected to open positively after recovery from a recent sell-off, although the market is currently facing challenges like rising long-term yields and ongoing tariff volatility.
- Key corporate updates include:
- Adriatic Metals’ collaboration with Dundee Precious Metals, marking a strategic shift in the silver market.
- Iress CEO transition, emphasising changes in leadership.
- Platinum Asset Management’s chairman increasing his stockholdings, signalling confidence in the company.
What to Watch:
- Gold Prices: Continued strength at historical highs, yet gold miners may show signs of market fatigue.
- Oil Market: Potential OPEC+ discussions on increasing production could exert further pressure on prices.
- Market Dynamics: ASX facing a critical phase, with a potential for consolidation after previous gains.
Upcoming Key Events:
- Economic Report: Expect the Balance of Trade data (Jul) by 11:30 am AEST, followed by the US ISM Services PMI release at midnight.
This wrap-up provides an overview of the current market landscape, essential updates in corporate activities, and insights into the economic indicators that may impact trader decisions today.
