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ASX Morning Wrap: 4 July 2025
Market Overview
ASX 200 futures have opened positively, showing an increase of 27 points (+0.31%) as of 8:30 am AEST. The global sentiment is upbeat as the S&P 500 and Nasdaq have reached new all-time highs, aided by a shortened trading session in the US due to the Independence Day holiday.
Key Insights:
- The US markets saw the S&P 500 and Nasdaq posting record highs.
- Expect lower trading volumes today on the ASX due to the abbreviated US session and the forthcoming closure tomorrow for the holiday.
Overnight Summary
| Major Indices: | Index | Value | % Change |
|---|---|---|---|
| S&P 500 | 6,279 | +0.83% | |
| Dow Jones | 44,829 | +0.77% | |
| Nasdaq Comp | 20,601 | +1.02% | |
| Russell 2000 | 2,249 | +1.02% |
| Country Indices: | Country | Value | % Change |
|---|---|---|---|
| Canada | 27,034 | +0.61% | |
| China | 3,461 | +0.18% | |
| Germany | 23,934 | +0.61% | |
| Hong Kong | 24,070 | -0.63% | |
| India | 83,239 | -0.20% | |
| Japan | 39,786 | +0.06% | |
| United Kingdom | 8,823 | +0.55% |
Commodities and Currency:
| Commodities (USD): | Commodity | Value | % Change |
|---|---|---|---|
| Gold | 3,325.66 | -0.95% | |
| Copper | 5.0877 | -1.13% | |
| WTI Oil | 66.83 | -0.42% |
| Currency: | Pair | Value | % Change |
|---|---|---|---|
| AUD/USD | 0.6571 | +0.00% |
| Cryptocurrency: | Cryptocurrency | Value | % Change |
|---|---|---|---|
| Bitcoin (USD) | 109,893 | +0.48% | |
| Ethereum (AUD) | 3,956 | +0.12% |
US Market Highlights
- The major US indices showed robust performance, closing at their peak levels, with the S&P 500 and Nasdaq achieving all-time highs.
- The Russell 2000 index led the gains with a weekly increase of 3.52%.
- Tesla faced declining deliveries despite a rebound in the Chinese market, necessitating a strong second half of the year.
Sector Performance
| US Sectors: | Sector | % Change |
|---|---|---|
| Information Technology | +1.29% | |
| Financials | +1.08% | |
| Industrials | +0.82% | |
| Consumer Discretionary | +0.75% | |
| Utilities | +0.74% | |
| Communication Services | +0.61% |
Economic Insights
- The US nonfarm payrolls increased by 147,000 in June, exceeding the anticipated 118,000. The unemployment rate fell to 4.1%.
- China’s service sector growth hit a nine-month low, raising concerns about demand and ongoing US trade tensions.
ASX Today
A calm trading day is anticipated on the ASX, with expectations of setting a seventh record high this year. Most sectors in the US market were positive, save for Materials, which remained flat after a recent rally. The lower trading volume is expected due to the early US market close.
Broker Moves
- Pro Medicus was downgraded to Hold from Buy, but its target price increased to $320 from $280.
Corporate Actions
- Ex-Dividends: The Reject Shop (TRS) – $0.77 (4 July 2025); Collins Foods (CKF) – $0.15 (7 July 2025).
- Dividends Announced: AFT Pharmaceuticals (AFP), Fisher & Paykel (FPH).
Economic Calendar: No significant economic announcements are expected today.
In conclusion, with steady global market conditions and strong sector performance, the ASX anticipates a fruitful trading day, aiming for another record high amidst a backdrop of cautious optimism in the economic landscape.
