Tuesday Market Wrap-Up: A Postive Start for ASX
As of 8:30 AM AEST, ASX 200 futures have risen by 51 points, or 0.59%, signalling an optimistic start for Australian markets.
Key Highlights:
- Major US stock indices recorded gains, with both the S&P 500 and Nasdaq nearing their recent all-time highs.
- Market sentiment appears buoyed by speculation that President Trump may withdraw his recent tariff threats.
- Earnings season for Q2 2025 commences this week, with significant growth anticipated in the results from leading investment banks.
Overnight Summary (Tuesday, July 15, 2025, 8:21 AM AEST)
| Major Indices | Value | Change |
|---|---|---|
| S&P 500 | 6,269 | +0.14% |
| Dow Jones | 44,460 | +0.20% |
| NASDAQ Composite | 20,640 | +0.27% |
| Russell 2000 | 2,250 | +0.67% |
Country Index Performance:
| Country | Value | Change |
|---|---|---|
| Canada | 27,199 | +0.65% |
| China | 3,520 | +0.27% |
| Germany | 24,161 | -0.39% |
| Hong Kong | 24,203 | +0.26% |
| India | 82,253 | -0.30% |
| Japan | 39,460 | -0.28% |
| United Kingdom | 8,998 | +0.64% |
Commodity and Currency Updates:
Commodities (USD)
| Commodity | Value | Change |
|---|---|---|
| Gold | 3,342.24 | -0.43% |
| Copper | 5.4884 | -0.88% |
| WTI Oil | 66.83 | -2.19% |
Currency
| Currency Pair | Value | Change |
|---|---|---|
| AUD/USD | 0.6546 | -0.01% |
Cryptocurrency Updates:
| Cryptocurrency | Value | Change |
|---|---|---|
| Bitcoin (USD) | 119,975 | +1.20% |
| Ethereum (AUD) | 4,591 | +1.60% |
US Sector Performance:
| Sector | Change |
|---|---|
| Communication Services | +0.73% |
| Financials | +0.67% |
| Real Estate | +0.67% |
| Industrials | +0.54% |
| Consumer Discretionary | +0.37% |
| Utilities | +0.35% |
| Consumer Staples | +0.13% |
| Health Care | -0.10% |
| Information Tech | -0.25% |
| Materials | -0.44% |
| Energy | -1.20% |
Market Insights:
- The previous session on major US indices demonstrated upward momentum amidst a backdrop of anticipation ahead of the earnings season.
- Notably, a number of analysts predict modest earnings growth of 4.8% for the S&P 500, which would be the slowest since Q4 2023.
- Attention is drawn to the upcoming US CPI report, where expectations are for core CPI to increase by 0.3%, signalling potential implications for Federal Reserve monetary policy.
Economic Developments:
- China’s export strength surged in June, drawing attention as the US-China trade dynamics evolve.
- Singapore’s economy showed resilience with a 4.3% growth rate in Q2, outperforming expectations and averting a technical recession.
Outlook for ASX:
Today promises to be eventful as the market awaits the results of the CPI report and earnings updates. Key areas to observe include:
- The performance of local lithium stocks, following a surprising rally on Monday amidst findings from the Chinese futures market.
- Any reactions from analysts regarding Hansen’s upward revision of EBITDA, which saw its stock rise markedly.
Broker News:
- Telix Pharmaceuticals has been given an "Overweight" rating with a target price of $31.00 by JPMorgan, signalling potential for a bullish response.
Final Takeaway:
With global markets exhibiting a positive tone, combined with anticipatory sentiment surrounding key economic indicators and corporate earnings, investors remain cautiously optimistic about market performance in the near term. Stay tuned for significant reports and analysis throughout the day.
