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Tuesday Morning Market Wrap-Up
ASX 200 futures are up 97 points (+1.17%) as of 8:30 am AEST.
Key Highlights:
- The American stock market experienced significant gains due to a major easing of US-China trade tensions.
- For the next 90 days, US tariffs on Chinese goods are set to drop from 145% to 30%, while Chinese tariffs on US products will reduce from 125% to 10%.
- Gold prices took a hit, resulting in a more than 7% decrease in the gold miners ETF overnight.
Overnight Market Summary
Date: Tue 13 May 2025, 8:21 am AEST
| Major Indices Performance: | Index | Value | % Change |
|---|---|---|---|
| S&P 500 | 5,844 | +3.26% | |
| Dow Jones | 42,410 | +2.81% | |
| NASDAQ Composite | 18,708 | +4.35% | |
| Russell 2000 | 2,092 | +3.42% |
| Country Indices Performance: | Country | Value | % Change |
|---|---|---|---|
| Canada | 25,532 | +0.69% | |
| China | 3,369 | +0.82% | |
| Germany | 23,567 | +0.29% | |
| Hong Kong | 23,549 | +2.98% | |
| India | 82,430 | +3.74% | |
| Japan | 37,644 | +0.38% | |
| United Kingdom | 8,605 | +0.59% |
| Commodity Prices (in USD): | Commodity | Value | % Change |
|---|---|---|---|
| Gold | 3,228.0 | -0.24% | |
| Copper | 4.621 | +0.68% | |
| WTI Oil | 61.95 | +1.52% |
| Currency and Cryptocurrency: | Currency/Asset | Value | % Change |
|---|---|---|---|
| AUD/USD | 0.6371 | -0.79% | |
| Bitcoin (USD) | 102,509 | -1.48% | |
| Ethereum (AUD) | 3,899 | -0.97% |
US Sectors Performance
| Sector | % Change |
|---|---|
| Consumer Discretionary | +5.66% |
| Information Technology | +4.66% |
| Communication Services | +3.35% |
| Industrials | +3.06% |
| Energy | +2.47% |
| Health Care | +2.43% |
| Financials | +2.03% |
| Materials | +1.90% |
| Consumer Staples | +0.07% |
| Real Estate | +0.03% |
| Utilities | -0.68% |
Market Insights
- In a significant risk-on session, technology and discretionary sectors surged more than 4.5%, significantly influenced by the relief in trade tensions between the US and China.
- Notable stocks such as Tesla and Apple saw gains of 6.7% and 6.3%, respectively, as optimism spread through the market following the tariff announcements.
- Retailers particularly benefited from the announcements of tariff reductions on imported goods from China, leading to gains for companies like Lululemon (+8.7%) and Nike (+7.3%).
Key Economic Indicators
- The upcoming US inflation report is anticipated, with the core annual figure for April expected to remain at 2.8%.
- Market analysts are closely watching for potential shifts in monetary policy following the easing of global trade tensions.
ASX Updates
Key Reports:
- Humm Group reported a 10% rise in assets under management.
- Life360 posted a 32% increase in quarterly revenue, substantially outperforming market expectations.
- Meridian Energy announced an agreement valued at NZ$70 million for customer contracts acquisition.
Market Outlook:
- Anticipate a robust trading session, particularly in tech and discretionary stocks driven by the prevailing risk appetite.
- Gold Miners ETF likely to open lower following the significant dip in gold prices.
- Market participants alert for US interest rates movement amidst rising yields, adding another layer of complexity to the market landscape.
What to Watch:
- Assess potential impacts from current ASX developments on market performance.
- Monitor the outcome of the US inflation report and its influence on the local market.
- Keep an eye on analysts’ expectations and adjustments following central bank policy responses to changing economic indicators.
This summary encapsulates the critical developments shaping market dynamics today, catering to investors and stakeholders awaiting updates in these fast-evolving sectors.
