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Table of Contents
Morning Market Wrap – 24 July 2025
As of 8:30 AM AEST, ASX 200 futures have increased by 23 points (+0.26%).
Key Highlights
- The S&P 500 and Nasdaq indices reached new historical peaks following President Trump’s announcement of trade agreements with Japan, Indonesia, and the Philippines.
- Notable meme stocks, such as GoPro and Krispy Kreme, experienced significant volatility, showing sharp gains before fading.
- The healthcare sector is rebounding strongly, now trading at historically low relative valuations.
Overnight Market Overview
Major Indices Performance
- S&P 500: 6,359 (+0.78%)
- Dow Jones: 45,010 (+1.14%)
- NASDAQ Comp: 21,020 (+0.61%)
- Russell 2000: 2,283 (+1.53%)
Global Indices
- Canada: 27,416 (+0.19%)
- China: 3,582 (+0.01%)
- Germany: 24,241 (+0.83%)
- Hong Kong: 25,538 (+1.62%)
- India: 82,727 (+0.66%)
- Japan: 41,171 (+3.51%)
- UK: 9,061 (+0.42%)
Commodities (in USD)
- Gold: $3,390.62 (-1.19%)
- Copper: $5.8131 (+1.41%)
- WTI Oil: $65.42 (+0.20%)
Currency
- AUD/USD: 0.66 (+0.01%)
Cryptocurrency
- Bitcoin (USD): $118,121 (-1.33%)
- Ethereum (AUD): $5,439 (-3.46%)
US Sector Performance
Top Performing Sectors
- Healthcare: +2.03%
- Industrials: +1.75%
- Energy: +1.54%
- Information Technology: +0.74%
- Financials: +0.72%
Underperforming Sectors
- Consumer Staples: -0.07%
- Utilities: -0.79%
Market Developments
- US Marks New Highs: Major US indices surged, achieving all-time highs amid positive sentiment from trade deals.
- Meme Stocks in Focus: The volatility of meme stocks led to concerns about market complacency as their price swings intensified.
- Healthcare Outlook: The healthcare sector’s resurgence stems from attractive valuations after a period of stagnation, although future drug pricing policies remain uncertain.
Notable Stock Movements
- Texas Instruments (TI): Decreased by 13.3% due to disappointing sales projections.
- Tesla: Fell by 3.5% after reporting a revenue decline to $22.5 billion.
- SAP: Dropped 4.1% reflecting lackluster cloud sales amid tariff worries.
- Nokia: Down 7.5%, reducing profit forecasts due to currency and tariff impacts.
Central Bank Updates
- The Bank of Japan (BOJ) maintains a cautious stance on rate hikes despite mixed signals from recent trade agreements.
- According to the Reserve Bank of Australia (RBA), further cuts may be anticipated, raising estimates from two to three anticipated reductions by early 2026.
Trade Tariffs Announcements
- Newly enacted deals with Japan and the Philippines specify reduced tariffs, optimistic for US markets.
- Ongoing negotiations with the EU may also yield similar tariff reductions.
ASX Today
- Australian Ethical’s Andy Gracey has announced retirement; Lynas reports impressive Q4 gross sales revenue.
- Regis Healthcare is set to acquire new facilities, while Santos prepares for a binding bid from ADNOC.
What to Expect Today
- Focus sectors include healthcare, which shows great promise for growth.
- Recent Stock Upgrades: Challenger has been downgraded to Underweight; Paladin Energy receives an upgrade.
Key Economic Indicators Scheduled
- Australia Manufacturing and Services PMI (July) – 9:00 AM
- Germany Manufacturing and Services PMI (July) – 5:30 PM
- UK Manufacturing and Services PMI (July) – 6:30 PM
- ECB Interest Rate Decision – 10:15 PM
- Manufacturing and Services PMI (July) – 11:45 PM
This concise wrap-up encapsulates market trends and critical financial movements, preparing investors for the day ahead.
