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Market Wrap: Friday, 8 August 2025
ASX Indications and Overview
ASX 200 futures have commenced the day down 25 points (-0.28%) as of 8:30 AM AEST. Here’s a snapshot of the market dynamics:
- The S&P 500 index edged lower overnight while the Nasdaq Composite gained momentum, buoyed by a substantial uptick in Apple shares.
- Apple has committed to invest a staggering US$600 billion in the US, securing exemptions from the recently imposed 100% tariff on chips by former President Trump.
- Notable movements include Block, which rallied following an upgrade in its full-year earnings guidance. Earnings reports from QBE and Nick Scali are expected today.
Overnight Market Summary
Date: Friday, 8 August 2025
Time: 8:30 AM AEST
| Major Indices Update | Index | Value | Change (%) |
|---|---|---|---|
| S&P 500 | 6,340 | -0.08 | |
| Dow Jones | 43,969 | -0.51 | |
| NASDAQ Composite | 21,243 | +0.35 | |
| Russell 2000 | 2,215 | -0.30 |
| Country Indices | Country | Value | Change (%) |
|---|---|---|---|
| Canada | 27,761 | -0.57 | |
| China | 3,640 | +0.16 | |
| Germany | 24,193 | +1.12 | |
| Hong Kong | 25,082 | +0.69 | |
| India | 80,623 | +0.10 | |
| Japan | 41,059 | +0.65 | |
| United Kingdom | 9,101 | -0.69 |
| Commodity Prices (USD) | Commodity | Price | Change (%) |
|---|---|---|---|
| Gold | 3,395.12 | +0.77 | |
| Copper | 4.3987 | +0.15 | |
| WTI Oil | 63.82 | -0.81 |
| Currency Exchange Rates | Currency | Rate | Change (%) |
|---|---|---|---|
| AUD/USD | 0.6524 | 0.00 |
| Cryptocurrency Market | Cryptocurrency | Price (USD) | Change (%) |
|---|---|---|---|
| Bitcoin | 117,158 | +1.75 | |
| Ethereum (AUD) | 5,939 | +5.54 |
US Market Sector Changes
Positive Movers
- Utilities (+1.05%)
- Consumer Staples (+0.73%)
- Information Technology (+0.41%)
Negative Movers
- Financials (-1.14%)
- Health Care (-1.16%)
- Energy (-0.39%)
Market Insights
The overnight markets saw major US indices fluctuate, with the S&P 500 showing weakness while the Nasdaq showed resilience, spurred by Apple’s strong performance. Apple’s stock climbed over 8% during the previous sessions following their announcement of a commitment to significant US investments.
In response to economic changes, former President Trump’s new tariffs took effect, particularly impacting the semiconductor sector. However, Apple managed to secure exemptions due to its investment in US manufacturing.
Key Corporate Updates
- Apple faces challenges in recruitment as rival companies poach its AI talent.
- OpenAI introduced its latest GPT-5 model, showcasing advanced capabilities in various domains.
- Merck downgraded its profit outlook due to currency pressures, while companies like Maersk and Allianz expect positive earnings despite the tariff situation.
Looking Ahead: ASX Focus
Key updates are anticipated from the Australian market today:
- Austin Engineering executed a significant share trade at 28 cents each, equating to 7.8% of the company.
- Block released impressive earnings, outperforming estimates.
- QBE Insurance and Nick Scali are releasing financial results today, crucial for investor insights.
Broker Activity
- Light & Wonder has been downgraded to Neutral by JP Morgan with a revised target price.
- REA Group received a rating upgrade from Hold to Buy by BP, indicating positive sentiment moving forward.
Key Events to Note
- Several companies are to trade ex-dividend, including Amcil and Argo Investments.
- Economic announcements are sparse for today with no major releases scheduled.
This market overview captures the critical aspects impacting the Australian and global markets as we head into the trading day. Investors should keep a close eye on corporate earnings and geopolitical developments, particularly surrounding tariffs and economic policy shifts.
