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Morning Market Wrap-up – 11th June 2025
ASX 200 Futures Rise
As of 8:30 AM AEST, ASX 200 futures show an increase of 24 points, or 0.27%.
Key Highlights:
- The S&P 500 and Nasdaq are approaching all-time highs, sitting within 2.3% of their peaks.
- The overnight session in the US was largely quiet, with no significant updates on US-China trade discussions.
- Majority of stocks and sectors advanced, although the uranium and gold sectors faced declines.
Overnight Summary
| Date: Wednesday, 11th June 2025 US Market Overview: |
Index | Value | Change |
|---|---|---|---|
| S&P 500 | 6,039 | +0.55% | |
| Dow Jones | 42,867 | +0.25% | |
| NASDAQ Composite | 19,715 | +0.63% | |
| Russell 2000 | 2,156 | +0.56% |
| Global Indices Performance: | Country | Index | Value | Change |
|---|---|---|---|---|
| Canada | 26,426 | +0.19% | ||
| China | 3,385 | -0.44% | ||
| Germany | 23,988 | -0.77% | ||
| Hong Kong | 24,163 | -0.08% | ||
| India | 82,392 | -0.06% | ||
| Japan | 38,212 | +0.32% | ||
| UK | 8,853 | +0.24% |
| Commodity Prices (USD): | Commodity | Value | Change |
|---|---|---|---|
| Gold | 3,321.59 | -0.12% | |
| WTI Oil | 64.98 | -0.47% |
| Cryptocurrency Overview: | Cryptocurrency | Value (USD) | Change |
|---|---|---|---|
| Bitcoin | 109,977 | -0.20% | |
| Ethereum (AUD) | 4,278 | +5.40% |
US Market Performance
- Major US indices closed higher, indicative of investor optimism despite a subdued session, largely focusing on upcoming economic indicators.
- S&P 500 and Nasdaq are both near record levels, with institutional investors boosting their stock exposures.
- Citi reports that the tech sector is experiencing a renewed rush of bullish investments due to positive economic outlooks.
Stock Updates
- IBM plans new quantum computers, signalling tech innovations.
- Apple showcased an OS redesign and updates to its AI services.
- OpenAI reported nearly doubling its revenue to $10bn due to rising demand.
Central Bank Updates
- Bank of Japan hints at potential tightening, while the Federal Reserve is expected to maintain its current rates until at least September.
- The Bank of Mexico may cut rates, creating further speculation in monetary policy due to inflation concerns.
Trade & Geopolitics
- Ongoing US-China trade discussions show potential for further engagement, but remain sparse on details.
- New trade measures are being introduced as bilateral tensions rise, and China is pursuing export curbs on rare earth materials.
Economic Indicators
- China’s new fund to stimulate housing signals targeted economic support.
- Retail sales growth in the UK has seen a significant deceleration, pressured by rising costs.
- The World Bank revised global growth projections down, reflecting current trade tensions.
ASX Outlook
ASX is likely to reach new all-time highs influenced by overnight trends seen in US markets:
- NextDC and Metcash saw significant stock gains.
- Both uranium and gold sectors are underperforming, potentially impacting local ETFs.
Broker Updates
- Beach Energy downgraded to Neutral, while SiteMinder initiated an Outperform rating with a $6.09 target.
Key Events
- Dividend Updates: Key companies like Infratil and Tower will issue dividends today.
- Economic Releases: Keep an eye on the US inflation data releasing at 10:30 PM AEST.
The information encapsulates a snapshot of market conditions and expectations, encouraging investors to keep abreast of ongoing developments as they unfold.
