Friday Morning Market Wrap-Up
Market Overview
ASX 200 futures have opened 27 points higher (+0.31%) as of 8:30 AM AEST.
Key Highlights:
- The S&P 500, Nasdaq, and FTSE 100 all reached record highs, buoyed by broad market gains.
- The resources sector experienced a surge, driven by speculation around stimulus for China’s property market.
- Former US President Trump confirmed the implementation of a 50% copper tariff starting August 1, affecting Brazil with similar tariffs.
Overnight Summary
As of Friday, July 11, 2025, major US indices demonstrated strong performance, closing near their peak for the session. Both the S&P 500 and Nasdaq set new all-time records. Other highlights include:
- Trade headlines were minimal, with Trump’s announcements contributing a moderate impact on market sentiment.
- The UK’s FTSE 100 also achieved a new high, marking its best performance in four years.
- Nvidia’s market cap surpassed $4 trillion for the first time.
| Market Indices: | Index Name | Value | % Change |
|---|---|---|---|
| S&P 500 | 6,280 | +0.27% | |
| Dow Jones | 44,651 | +0.43% | |
| NASDAQ Comp | 20,631 | +0.09% | |
| Russell 2000 | 2,263 | +0.48% |
| Country Indices: | Country | Value | % Change |
|---|---|---|---|
| Canada | 27,082 | +0.41% | |
| China | 3,510 | +0.48% | |
| Germany | 24,457 | -0.38% | |
| Japan | 39,646 | -0.44% | |
| United Kingdom | 8,976 | +1.23% |
| Commodity Prices: | Commodity | Price | % Change |
|---|---|---|---|
| Gold | 3,324.89 | +0.34% | |
| Copper | 5.5786 | +2.48% | |
| WTI Oil | 66.87 | -2.16% |
| Currency and Cryptocurrency: | Description | Value | % Change |
|---|---|---|---|
| AUD/USD | 0.6591 | +0.03% | |
| Bitcoin (USD) | 116,184 | +4.62% | |
| Ethereum (AUD) | 4,491 | +7.03% |
| US Sector Performance: | Sector | % Change |
|---|---|---|
| Consumer Discretionary | +0.98% | |
| Energy | +0.79% | |
| Utilities | +0.78% | |
| Financials | +0.64% | |
| Health Care | +0.63% | |
| Real Estate | +0.48% | |
| Materials | +0.46% | |
| Information Technology | -0.12% |
Key Developments:
- Tesla has expanded its robotaxi service area in Austin, Texas.
- The US Defense Department is set to become the largest shareholder in rare-earth producer MP Materials, resulting in a 50% surge in shares.
- Oil prices fell by approximately 2%, influenced by OPEC discussions regarding production increases.
Current Economic Landscape:
JPMorgan is contemplating adjustments to the representation of China and India in its Emerging Market Bond Index, highlighting ongoing shifts in international investment strategies.
ASX Today Highlights:
- Blackstone has withdrawn from negotiations regarding KKR’s 60.5% stake in Pepper Money.
- TPG Telecom is preparing for a significant capital return associated with the proceeds from the Vocus sale.
- Vulcan Energy has completed a $53.6 million placement to support its development initiatives.
What to Watch:
Investors should keep an eye on the rare earths market following the US Defence Department’s acquisition, which is poised to influence the sector positively. Additionally, commodities linked to the surge in Chinese property stocks could continue to see heightened interest in the coming sessions.
Important Dates:
- Key economic indicators such as the UK GDP and Canada’s unemployment rate will be released later today, which may impact market movements.
Conclusion
The markets are set to maintain momentum as investors anticipate key economic data and shifts in international trade relationships. Continued monitoring of commodity prices, especially in connection with China’s policies, remains crucial as the implications of tariff adjustments unfold.
