Written by Atchison9, Jul 2025

Daily Market Update: 9 July, 2025

The key takeaways from the last 24 hours

Rate cut hopes dashed, ASX flat on RBA hold, property sinks behind Mirvac

The local market finished flat, with the ASX All Ordinaries Index (ASX: XAO) managing a gain of just 2 points on Tuesday. Strength in the defensive communication and financial sectors, led by an end to Commonwealth Bank of Australia (ASX: CBA)’s losing streak, which added 0.8 per cent, were enough to offset a sell-off in the property, utilities, and consumer staples sectors, the latter two both falling by more than 1 per cent. The likes of Mirvac Group (ASX: MGR) and shopping centre owner Scentre Group (ASX: SCG) were down more than 1 per cent each as the Reserve Bank of Australia (RBA) made the shock call to hold interest rates at 3.85 per cent. This was despite expectations from across the industry, including more than three-quarters of economists, who predicted at least a 25 basis point cut. The RBA blamed ‘volatile’ monthly inflation data and suggested that inflation would need to be ‘nailed’ before rates would be cut again. They did, however, make it clear that rates will be lower at some point in the future.

 

Platinum-L1 merger deal terms out, Kraken to add $2 to Origin, gold rally re-emerges

In positive news for shareholders, the separation of Octopus Energy’s Kraken platform is likely to add as much as 2 dollars per share to Origin Energy Limited (ASX: ORG)’s value as the UK-based company goes from strength to strength. Shares fell 1 per cent despite the news. Platinum Asset Management Limited (ASX: PTM) managed to post a 3 per cent gain after the company confirmed it had agreed on terms with L1 Capital for a merger that would take the combined business to 16.5 billion dollars. Platinum will acquire L1’s shares, and in consideration they will pay with PTMshares, with L1 to own 74 per cent of the combined entity after the deal. Performance fees will be split between shareholders. Regis Resources Limited (ASX: RRL) managed a 3.6 per cent gain as President Trump’s latest tariff announcements pushed investors back into the safe haven asset. Crypto firm DigitalX Limited (ASX: DCC) gained 34 per cent after confirming a 20 million dollar share placement with global crypto firms.

 

S&P 500, Dow Jones slip as tariff threats return, Tesla gains, copper surges

US markets were broadly flat, with the Dow Jones Industrial Average (INDEXDJX: DJI) dropping 0.4 per cent while the S&P 500 Index (NYSE: SPX) lost marginally and the NASDAQ Composite Index (NASDAQ: IXIC) gained, following a 1 per cent gain from Tesla Inc (NASDAQ: TSLA). All eyes are back on President Trump, who has threatened new tariffs across the globe, but with a particular focus on Asia, where we may see greater volatility in coming weeks. The price of copper in the US gained 13 per cent after he announced a potential 200 per cent tariff on imports in an attempt to protect local buyers and producers. Despite suggestions of the opposite, Europe may be facing a hike in tariffs as negotiations have stalled and the bloc continues to charge large US tech firms for multiple law breaches.

 

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Written by Atchison19, Jun 2025

Daily Market Update: 19 June, 2025

The key takeaways from the last 24 hours

ASX steadies despite mining drag

The Australian sharemarket ended marginally lower on Wednesday, with the S&P/ASX 200 Index (ASX: XJO) down 0.1 per cent to close at 8531.2. The modest dip came despite eight of the eleven industry sectors posting gains, as a sharp retreat in the materials sector weighed heavily on the broader market. The key driver of this decline was renewed pressure on iron ore prices, which slipped below $US93 a tonne in Singapore.

Iron ore slump hits major miners

Iron ore-exposed stocks bore the brunt of the market’s retreat, with BHP Group Limited (ASX: BHP) falling 1.2 per cent to $36.86, Fortescue Metals Group Limited (ASX: FMG) sliding 4 per cent to $15.03, and Mineral Resources Limited (ASX: MIN) tumbling 4.6 per cent to $22.59. Citi downgraded its 12-month forecast for iron ore prices to $US90 per tonne, adding further pressure. Gold miners also declined despite global tensions, with Northern Star Resources Limited (ASX: NST) dropping 2 per cent to $20.58 and Evolution Mining Limited (ASX: EVN)falling 3.6 per cent to $8.15. In contrast, uranium stocks rallied, with Boss Energy Limited (ASX: BOE) gaining 4.3 per cent after strong production results, and Deep Yellow Limited (ASX: DYL) advancing 3.9 per cent on speculation of higher uranium prices.

 

Global jitters amid Fed hold and Middle East unrest

On Wall Street, markets were mixed following the US Federal Reserve’s decision to leave interest rates unchanged. The S&P 500 Index (NYSE: SPX) dipped slightly, the Dow Jones Industrial Average (NYSE: DJI) fell 44 points, while the Nasdaq Composite Index (NASDAQ: IXIC) inched up 0.1 per cent. Fed Chair Jerome Powell maintained a cautious tone, highlighting uncertainty around inflation and growth, while signaling two potential rate cuts in 2025. Rising geopolitical risks, particularly from escalating tensions between Israel and Iran, added to investor unease and pushed oil prices higher. Meanwhile, payment stocks Visa Inc (NYSE: V), Mastercard Inc (NYSE: MA), and PayPal Holdings Inc (NASDAQ: PYPL) each dropped over 4 per cent following the passage of the US Congress’s stablecoins act.

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Written by Atchison23, Jun 2025

Daily Market Update: 23 June, 2025

The key takeaways from the last 24 hours

Australian market edges lower amid banking sector drag

The Australian share market declined for a fourth consecutive session, with the S&P/ASX 200 Index (ASX: XJO) falling 18.2 points, or 0.2 per cent, to close at 8505.5 — its lowest level since early June. The retreat came as investors adopted a cautious stance amid escalating geopolitical concerns, particularly regarding potential US involvement in the conflict between Israel and Iran. Six of the 11 market sectors closed in negative territory, leading to a modest weekly drop of 0.5 per cent for the benchmark index. The financial sector weighed heavily, with Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Limited (ASX: NAB), Westpac Banking Corporation (ASX: WBC), and Australia and New Zealand Banking Group Limited (ASX: ANZ) all recording losses.

 

Healthcare gains and mining divergence

In contrast, defensive sectors saw renewed investor interest. Healthcare stocks performed strongly, with Pro Medicus Limited (ASX: PME), ResMed Inc. (ASX: RMD), and Cochlear Limited (ASX: COH) all posting gains, the latter climbing 2.5 per cent to $295.64. The mining sector delivered mixed results following a Citi downgrade of lithium price forecasts. Liontown Resources Limited (ASX: LTR) rebounded slightly despite initial losses, while Pilbara Minerals Limited (ASX: PLS) and Mineral Resources Limited (ASX: MIN) fell sharply. In corporate developments, Betr rose 5.3 per cent after submitting an all-share bid to acquire PointsBet Holdings Limited (ASX: PBH), while Bowen Coking Coal Limited (ASX: BCB) plunged 48.6 per cent after warning of potential mine suspensions due to market conditions and state royalties.

 

US markets decline amid war fears

On the global front, the US500 Index (CBOE: SPX), the primary benchmark for US equities, fell to 5948 points on June 22, marking a 0.32 per cent decline from the previous session. The downturn was driven by rising geopolitical instability following reports that the United States carried out airstrikes on Iranian nuclear facilities, stoking investor concerns over a broader regional conflict. Despite the short-term dip, the index has climbed 2.21 per cent over the past month.

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Written by Atchison24, Jun 2025

Daily Market Update: 24 June, 2025

The key takeaways from the last 24 hours

What turmoil, says Commonwealth Bank of Australia?

The local market headed lower as investors weighed concerns about the escalating conflict in the Middle East, but the negative sentiment was not able to put a dent in the rise of Commonwealth Bank of Australia (ASX: CBA). The benchmark S&P/ASX 200 Index (ASX: XJO) gave up 30.6 points, or 0.4 per cent, to 8,474.90 points on Monday; and the broader All Ordinaries Index (ASX: XAO) lost 35.5 points, also 0.4 per cent, to 8,688; but Commonwealth Bank of Australia (ASX: CBA) gained another $1.82, or 1 per cent, to $184.35 – after setting a new intra-day record at $184.41. Offshore investors can’t seem to get enough of the nation’s biggest bank. Not all of the other big banks rode on Commonwealth Bank of Australia (ASX: CBA)’s coat-tails: Westpac Banking Corporation (ASX: WBC) put on 21 cents, or 0.6 per cent, to $33.42; but Australia and New Zealand Banking Group Limited (ASX: ANZ) eased 18 cents, or 0.6 per cent, to $28.21; and National Australia Bank Limited (ASX: NAB) softened 3 cents, to $38.88. Elsewhere in the industrial world, Qantas Airways Limited (ASX: QAN) slipped 19 cents, or 1.9 per cent, and global logistics giant Brambles Limited (ASX: BXB) gave up $1.23, or 5 per cent, to $23.33. Adairs Limited (ASX: ADH) sank 53 cents, or 20.5 per cent, to $2.05 after warning that full-year earnings would come in below last year’s. It said that while stronger promotional activity had boosted sales, it would dent margins. The news spooked investors in rival retailer Temple & Webster Group Limited (ASX: TPW), which shed 48 cents, or 2.3 per cent, to $20.87; JB Hi-Fi Limited (ASX: JBH)fell 30 cents, or 0.3 per cent, to $108.40; but furniture heavyweight Nick Scali Limited (ASX: NCK) advanced 19 cents, or 1 per cent, to $18.33.

 

Resources mostly lower

In the energy sector, Santos (ASX: STO)  added one per cent, while Woodside (ASX: WDS) was flat as Brent crude rose $US2 over the Australian session to over $US78 a barrel, near its highest level since late January. In big mining, BHP Group Limited (ASX: BHP) retreated 57 cents, or 1.6 per cent, to $35.64; Rio Tinto Limited (ASX: RIO) slipped 34 cents, or 0.3 per cent, to $101.83; and Fortescue Ltd (ASX: FMG) walked back 15 cents, or 1 per cent, to $14.54. Elsewhere in resources, gold miner West African Resources Limited (ASX: WAF) gained 4 cents, or 1.8 per cent, to $2.21; fellow gold producer Newmont Corporation (NYSE: NEM) lifted $1.07, or 1.2 per cent, to $90.37; North American-based Capstone Copper Corp. (TSE: CS) gained 12 cents, or 1.4 per cent, to $8.57; and Namibia-based uranium producer Paladin Energy Limited (ASX: PDN) advanced 6 cents, or 0.8 per cent, to $7.42. But at the other end of the spectrum, gold miner Genesis Minerals Limited (ASX: GMD) dropped 18 cents, or 3.9 per cent, to $4.43; coal producer Whitehaven Coal Limited (ASX: WHC) lost 20 cents, or 3.5 per cent, to $5.57; gold miner Northern Star Resources Limited (ASX: NST) fell 64 cents, or 3.1 per cent, to $19.88; fellow goldie Capricorn Metals Ltd (ASX: CMM) shed 32 cents, or 3 per cent, to $10.20; Ramelius Resources Limited (ASX: RMS), also a gold miner, leaked 8 cents, or 3 per cent, to $2.58; Canadian-based Champion Iron Limited (ASX: CIA) slid 12 cents, or 3 per cent, to $3.95; and Indonesia-based nickel producer Nickel Industries Limited (ASX: NIC) lost 2 cents, or 2.8 per cent, to 70 cents.

 

US markets rally, but big news comes after close

Overnight, US markets rallied as Iran did not close the Strait of Hormuz, a crucial oil shipping route; also, prospects of the United States Federal Reserve cutting interest rates as early as July contributed to the upbeat mood. The market also shrugged off Iranian missile attacks on US bases in Qatar and Iraq, which did not cause any reported casualties, mainly because Iran gave the US advance notice of the missile strikes. Despite the attack, the US markets moved higher, with the broad S&P 500 Index (NYSEARCA: SPY) gaining 57.33 points, or 1 per cent, to 6,025.17; the blue-chip Dow Jones Industrial Average (INDEXDJX: DJI) adding 374.96 points, or 0.9 per cent, to 42,581.78; and the tech-heavy Nasdaq Composite Index (NASDAQ: IXIC) rising 183.57 points, also up 0.9 per cent, to 19,630.98. Bonds also rallied, with the US 10-year treasury trading 4 basis points lower at 4.34 per cent and at the short end, the two-year yielding 3.85 per cent, down 6 basis points. The major impact of Middle East events was felt in the oil price, which fell 7 per cent after Iran’s subdued response, and restraint on the Strait of Hormuz. After trading closed, US President Donald Trump announced an imminent ceasefire between Israel and Iran sent stock futures climbing, with Dow Jones Industrial Average (INDEXDJX: DJI) and S&P 500 Index (NYSEARCA: SPY) futures up about 0.4 per cent, and Nasdaq Composite Index (NASDAQ: IXIC) futures up about 0.6 per cent.

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Written by Atchison26, Jun 2025

Daily Market Update: 26 June, 2025

The key takeaways from the last 24 hours

Commonwealth Bank flies ever closer to the sun

With investors on the sidelines, waiting to see whether the fragile cease-fire between Israel and Iran will hold, there was not much in the way of index movement in the Wednesday session on the Australian Securities Exchange (ASX), with the benchmark S&P/ASX 200 Index (ASX: XJO) closing up 3.7 points at 8,559.20, and the broader All Ordinaries Index (ASX: XAO) accruing 5.1 points to 8,779. The ‘story’ for the day was Commonwealth Bank of Australia (ASX: CBA) hitting yet another record high, gaining $3.27, or 1.7 per cent, to $191.40. The stock is now up almost 25 per cent in 2025 so far, and trades at more than 30 times expected FY26 earnings, making it arguably the most expensively rated bank in the world. The big four Australian banks normally trade on about 12–13 times earnings. Of its peers, Australia and New Zealand Banking Group Limited (ASX: ANZ) lifted 50 cents, or 1.8 per cent, to $29.10; National Australia Bank Limited (ASX: NAB) picked up 30 cents, or 0.8 per cent, to $40.05; and Westpac Banking Corporation (ASX: WBC) added 25 cents, or 0.7 per cent, to $34.54.

Newly refloated airline Virgin Australia Holdings Limited (ASX: VGN) followed its strong debut yesterday—when it rose 11.4 per cent above the $2.90 issue price—with a gain of 11 cents, or 3.4 per cent, to $3.34. Equipment-financier and consumer buy-now-pay-later company Humm Group Limited (ASX: HUM) spiked 5.5 cents, or 11.5 per cent, higher to 54 cents after the company confirmed a takeover offer from the family office of its chairman, Andrew Abercrombie. Counter-drone-technology company DroneShield Limited (ASX: DRO) surged 35.5 cents, or 19.9 per cent, to $2.15 after being awarded its biggest-ever defence order — a package of three contracts worth $61.6 million, with the end-buyer being a European military customer. The contracts are for handheld detection and counter-drone systems and associated accessories. The order’s value is larger than the entire $57.5 million revenue DroneShield Limited (ASX: DRO) generated in 2024.

In economic news, the Australian Bureau of Statistics (ABS) reported a fall in annual trimmed-mean inflation in May to 2.4 per cent—its lowest level since November 2021—which led some bank economists to forecast a rate cut next month.

 

Resources screens mostly red

Among the big miners, BHP Group Limited (ASX: BHP) eased 37 cents, or 1 per cent, to $36.11; Rio Tinto Limited (ASX: RIO) slipped 64 cents, or 0.6 per cent, to $104.30; and Fortescue Metals Group Limited (ASX: FMG) gave up 35 cents, or 2.3 per cent, to $14.88. In energy, Woodside Energy Group Limited (ASX: WDS) surrendered 16 cents, or 0.7 per cent, to $24.00 despite sealing a US$5.7 billion deal over its Louisiana LNG project, while Santos Limited (ASX: STO) lost 9 cents, or 1.2 per cent, to $7.57.

In coal, Whitehaven Coal Limited (ASX: WHC) walked back 12 cents, or 2.2 per cent, to $5.45; New Hope Corporation Limited (ASX: NHC) shed 10 cents, or 2.6 per cent, to $3.75; and Stanmore Resources Limited (ASX: SMR) fell 9 cents, or 4.7 per cent, to $1.83. Mineral Resources Limited (ASX: MIN), which mines lithium and iron ore, slipped $1.28, or 6 per cent, to $20.18; lithium producer Pilbara Minerals Limited (ASX: PLS) lost 4 cents, or 3.1 per cent, to $1.25; and diversified miner South32 Limited (ASX: S32) eased 8 cents, or 2.7 per cent, to $2.84.

In gold, Capricorn Metals Limited (ASX: CMM) fell 49 cents, or 4.7 per cent, to $9.90; Genesis Minerals Limited (ASX: GMD) softened 18 cents, or 4 per cent, to $4.34; Perseus Mining Limited (ASX: PRU) slid 12 cents, or 3.4 per cent, to $3.37; and Northern Star Resources Limited (ASX: NST) gave up 52 cents, or 2.6 per cent, to $19.28. Green arrows were rare on the resources screens, but Namibia-based uranium producer Paladin Energy Limited (ASX: PDN) firmed 26 cents, or 3.5 per cent, to $7.75; Capstone Copper Corp. (TSX: CS) gained 9 cents, or 1 per cent, to $8.95; Canadian-based uranium project developer NexGen Energy Ltd. (ASX: NXG) advanced 8 cents, or 0.8 per cent, to $10.42; and gold miner Gold Road Resources Limited (ASX: GOR) lifted 2 cents, or 0.6 per cent, to $3.33.

 

White House, Fed differ on rate cuts

In the US, tensions in the Middle East appeared to be calming, and investors are preparing for May’s personal-consumption-expenditures price-index reading, which will be released on Friday. The broad S&P 500 Index (INDEXSP: SPX) finished Wednesday’s session flat, minutely lower at 6,092.16, while the 30-stock Dow Jones Industrial Average (INDEXDJX: DJI) slid 106.59 points, or 0.3 per cent, to 42,982.43; but the Nasdaq Composite Index (NASDAQ: IXIC) appreciated 61.02 points, or 0.3 per cent, to 19,973.55, edging closer to a new record. The Nasdaq was powered by chipmaker NVIDIA (NASDAQ: NVDA), which jumped 4.3 per cent, touching a record high and lifting its market capitalisation to US$3.75 trillion, making it the world’s most valuable company.

Federal Reserve Chair Jerome Powell said this week that the central bank’s preferred inflation measure is likely to rise to 2.3 per cent, while the ‘core’ figure, which excludes food and energy, is expected to tick up to 2.6 per cent from 2.5 per cent in April. However, Powell stressed that the central bank is committed to keeping inflation under control in the face of “uncertain” effects of Trump’s tariffs on the economy: while the White House is demanding rate cuts, the Federal Reserve chair is determined to wait to see the impact on inflation—rate-cut decisions will be based on that.

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Written by Atchison27, Jun 2025

Daily Market Update: 27 June, 2025

The key takeaways from the last 24 hours

Market indices come down with Comm Bank

On Thursday the Australian sharemarket’s benchmark S&P/ASX 200 Index (ASX: XJO) fell 8.4 points, or 0.1 per cent, to 8550.8, with seven out of 11 sectors closing down. The broader All Ordinaries Index (ASX: XAO) slid 6.3 points, to 8773.6.

Market bellwether Commonwealth Bank of Australia Limited (ASX: CBA) weakened 69 cents, or 0.4 per cent, to $190.71 after hitting a fresh record of $192 on Wednesday, while National Australia Bank Limited (ASX: NAB) fell 16 cents, or 0.4 per cent, to $39.89. But Australia and New Zealand Banking Group Limited (ASX: ANZ) surged 64 cents, or 2.2 per cent, to $29.74, and Westpac Banking Corporation (ASX: WBC) firmed 3 cents, to $34.57. Elsewhere on the industrial screens, counter-drone tech company DroneShield Limited (ASX: DRO) rose another 25 cents, or 11.7 per cent, to $2.39 after gaining almost 20 per cent in the previous session when it announced a $61.6 million European military deal. Equipment-finance and buy-now, pay-later company Humm Group Limited (ASX: HUM) also extended its rally, gaining 2 cents, or 3.7 per cent, to 56 cents after the company confirmed a takeover offer from the family office of chairman Andrew Abercrombie. And neurological-disorders treatment company Neuren Pharmaceuticals Limited (ASX: NEU) leapt 77 cents, or 6.1 per cent, to $13.31 after announcing that the United States Patent and Trademark Office had accepted its patent application for a treatment of Pitt Hopkins syndrome. Small-business and accounting-software giant Xero Limited (ASX: XRO) retreated $10.21, or 5.3 per cent, to $184.00 as the company completed a $1.85 billion capital raising to buy US accounting and invoicing platform Melio Payments Inc. 

 

Vanguard bets on lithium

Among the mining heavyweights, BHP Group Limited (ASX: BHP) edged ahead by 1 cent, to $36.12; Rio Tinto Limited (ASX: RIO) receded 11 cents, or 0.1 per cent, to 4104.19; and Fortescue Metals Group Limited (ASX: FMG)put on 5 cents, or 0.3 per cent, to $14.93. Gold edged higher to US$333.98 an ounce as the US dollar dipped and traders weighed a truce in the Middle East. Still, miners of the precious metal were mostly lower, with Northern Star Resources Limited (ASX: NST) down 44 cents, or 2.3 per cent, to $18.84; Regis Resources Limited (ASX: RRL) losing 7 cents, or 1.5 per cent, to $4.49. The lithium sector was boosted by news that leading investment house Vanguard Group (Private) had become a substantial shareholder of PLS (ASX: PLS, formerly known as Pilbara Minerals Limited), lifting its share price 7 cents, or 5.6 per cent, to $1.32. The positive sentiment flowed through to other lithium producers, with Mineral Resources Limited (ASX: MIN), which also mines iron ore, up 72 cents, or 3.6 per cent, to $20.90; Liontown Resources Limited (ASX: LTR) rising 2 cents, or 2.9 per cent, to 70 cents; and IGO Limited (ASX: IGO), which also mines nickel, adding 7 cents, or 1.8 per cent, to $4.01.

In the US, the broad S&P 500 Index (INDEXSP: .INX) almost managed a new record, gaining 48.86 points, or 0.8 per cent, to finish the trading day at 6141.02, just a handful of points away from the intraday all-time high of 6147.43 reached in February. The 30-stock Dow Jones Industrial Average (INDEXDJX: .DJI) climbed 404.41 points, or 0.9 per cent, to 43 386.84, while the tech-heavy Nasdaq Composite Index (INDEXNASDAQ: .IXIC) rose 194.36 points, or 1 per cent, to 20 167.91, also coming within striking distance of a fresh record.

 

US economic data shows the good and bad

Official data showed the US economy contracting at an annualised rate of 0.5 per cent during the March quarter, a larger decline than the second estimate of a 0.2 per cent slide. The weaker GDP figure was largely driven by significant downward revisions to consumer spending and exports. However, new orders for manufactured goods in the US surged by 16.4 per cent in May to US$343.6 billion, following a revised 6.6 per cent drop in April.

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Written by Atchison30, Jun 2025

Daily Market Update: 30 June, 2025

The key takeaways from the last 24 hours

Iron ore lifts big miners

The Australian sharemarket’s benchmark index, the S&P/ASX 200 Index (ASX: XJO), notched its sixth winning week out of the past seven on Friday, finishing the week up 0.1 per cent after a rally on Tuesday following the Iran-Israel ceasefire. With one more day of trading left in the 2025 financial year, the S&P/ASX 200 Index (ASX: XJO) is on track to deliver an annual return of 13.9 per cent, including dividends.

However, Friday was a down day, with the benchmark S&P/ASX 200 Index (ASX: XJO) finishing Friday down 36.6 points, or 0.4 per cent, at 8,514.2, while the broader All Ordinaries Index (ASX: XAO) dropped 30 points, or 0.3 per cent, to 8,743.7.

The market was led by the materials sector, which rose 2.3 per cent, as iron ore prices lifted to US$94.50 a tonne.

BHP Group Limited (ASX: BHP) gained $1.41, or 3.9 per cent, to $108.97; Rio Tinto Limited (ASX: RIO) accrued $4.78, or 4.6 per cent, to $108.97; and Fortescue Ltd (ASX: FMG) added 53 cents, or 3.6 per cent, to $15.46.

 

Big banks come off

Each of the big four banks finished lower, with Commonwealth Bank of Australia (ASX: CBA) sliding $5.35, or 2.8 per cent, to $185.36; Westpac Banking Corporation (ASX: WBC) giving up 67 cents, or 1.9 per cent, to $33.90; Australia and New Zealand Banking Group Limited (ASX: ANZ) losing 54 cents, or 1.8 per cent, to $29.20; and National Australia Bank Limited (ASX: NAB) easing 63 cents, or 1.6 per cent, to $39.26.

The big industrials news was plumbing supplies giant Reece Limited (ASX: REH) plunging $3.24, or 18.7 per cent, to $14.12, giving up two-and-a-half years of gains. The company said that it expected to earn between $548 million and $558 million this financial year, down from $681 million it made in the 2024 financial year, and well below the $580 million the market was expecting.

 

US indices on track for strong June

On Wall Street on Friday, the broad S&P 500 Index (NYSE: SPX) touched its first new high since February, marking a 23 per cent rally from the depths of April’s tariff-induced sell-off.  At its low in April, the S&P 500 was down nearly 18 per cent for 2025, but the index has taken just 89 trading days to to regain the lost ground. That makes it the US benchmark’s quickest recovery back to a record close, after a decline of at least 15 per cent, in its history, according to Dow Jones Market Data.

The S&P 500 Index (NYSE: SPX) gained 32.05 points, or 0.5 per cent, at 6,173.07, surpassing its previous record of 6,147.43. At its low in April, the S&P 500 Index (NYSE: SPX) was down nearly 18 per cent for the year when global trade and tariff tensions spooked the market.

The technology-focused Nasdaq Composite Index (NASDAQ: IXIC) also hit an all-time high, adding 105.54 points, or 0.5 per cent, to 20,273.46, while the blue-chip Dow Jones Industrial Average (NYSE: DJI) added 432.43 points, or 1 per cent, to 43,819.27.

For June, the S&P 500 Index (NYSE: SPX) is up 4.4 per cent, while the Nasdaq Composite Index (NASDAQ: IXIC) has surged nearly 6.1 per cent, and the Dow Jones Industrial Average (NYSE: DJI) has put on about 3.7 per cent.

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Written by Atchison1, Jul 2025

Daily Market Update: 1 July, 2025

The key takeaways from the last 24 hours

Australian market gains on trade optimism

The Australian share market rose on Monday, with the S&P/ASX 200 Index (ASX: XJO) adding 28.1 points to close at 8542.3, marking a 0.3 per cent increase. Investor sentiment was buoyed by positive developments in US trade negotiations, which also fuelled a rally in Wall Street markets. Locally, seven of the 11 sectors gained, with health and technology stocks leading the advance. CSL Limited (ASX: CSL) climbed 2.2 per cent, Pro Medicus Limited (ASX: PME) gained 1.6 per cent, and Sigma Healthcare Limited (ASX: SIG) rose 1.4 per cent. The technology sector also saw strong performances, including a 2.2 per cent increase in NextDC Limited (ASX: NXT). Financials were mixed, with Macquarie Group Limited (ASX: MQG) up 3.9 per cent, while Commonwealth Bank of Australia (ASX: CBA) slipped 0.3 per cent.

 

Company updates and market movers

In corporate developments, James Hardie Industries plc (ASX: JHX) surged 7.1 per cent following the approval of a US$14 billion acquisition by Azek Company Inc (NYSE: AZEK), prompting a shift in its primary listing to New York. Star Entertainment Group Limited (ASX: SGR)dropped 6.9 per cent after its Hong Kong investors raised doubts over the Queen’s Wharf project in Brisbane. Meanwhile, DroneShield Limited (ASX: DRO) fell 4.2 per cent despite recent contract wins. NIB Holdings Limited (ASX: NHF) jumped 9.4 per cent after UBS Group AG (SWX: UBSG) upgraded its rating to “buy”. Newly listed biotech Tetratherix Limited (ASX: TTX) closed its debut session 4.9 per cent higher at $3.02. Superloop Limited (ASX: SLC) rose 1 per cent after lifting its full-year earnings forecast above previous guidance.

 

Global markets buoyed by tech rally and trade progress

Global markets extended gains as investors welcomed easing trade tensions and robust tech performance. The S&P 500 Index (NYSE: SPX)and Nasdaq 100 Index (NASDAQ: NDX) both advanced 0.5 per cent, supported by record highs in Microsoft Corporation (NASDAQ: MSFT)and Meta Platforms Inc (NASDAQ: META). Canada’s move to withdraw its digital services tax contributed to improved sentiment around ongoing US trade negotiations. The focus remains on the July 9 deadline tied to US tariff policies, with hopes for more deals to avoid renewed trade friction. Meanwhile, falling Treasury yields and rising expectations of interest rate cuts from the Federal Reserve created a favourable backdrop for equities, with the S&P 500 notching its strongest quarterly performance since late 2023.

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Written by Atchison2, Jul 2025

Daily Market Update: 2 July, 2025

The key takeaways from the last 24 hours

Australian market flat ahead of tariff decisions

The Australian share market ended Tuesday largely unchanged, with the S&P/ASX 200 Index dipping slightly by 1.2 points to 8541.1 as investors waited on developments in US trade negotiations. Financial markets remained cautious after US Treasury Secretary Scott Bessent warned tariffs could revert to earlier levels if deals aren’t made by the July 9 deadline. Canada’s suspension of its digital services tax and the European Union’s openness to a universal tariff highlight the rising urgency. The local technology sector took cues from the strong Nasdaq performance, with Xero Limited (ASX: XRO), Life360 Inc (ASX: 360), and Appen Limited (ASX: APX) all posting gains.

 

Real estate gains, HMC Capital slumps

Real estate stocks were lifted by rate-cut expectations ahead of the Reserve Bank of Australia’s upcoming meeting, with Scentre Group (ASX: SCG), GPT Group (ASX: GPT), and Stockland Corporation Limited (ASX: SGP) all climbing. Meanwhile, Commonwealth Bank of Australia (ASX: CBA) dragged the index lower with a 1.2 per cent drop, despite other banks such as Australia and New Zealand Banking Group Limited (ASX: ANZ) and National Australia Bank Limited (ASX: NAB) posting gains. In corporate news, HMC Capital Limited (ASX: HMC) plunged 17.3 per cent after scrapping its renewable energy strategy, while Insignia Financial Ltd (ASX: IFL) jumped 5.2 per cent following interest from private equity firm CC Capital. Biotech stocks were also active, with Tetratherix Limited (ASX: TTX) surging 12.3 per cent and Mesoblast Limited (ASX: MSB) gaining 11.2 per cent on positive FDA developments.

 

Global markets mixed as trade and budget dominate

US markets had a mixed session following the Senate’s approval of President Trump’s budget bill. The S&P 500 Index and the Nasdaq Composite Indexslipped 0.1 per cent and 0.8 per cent respectively, while the Dow Jones Industrial Average rose by 400 points, buoyed by strong gains in UnitedHealth Group Incorporated (NYSE: UNH) and Amgen Inc. (NASDAQ: AMGN). Tech stocks lagged, notably Tesla Inc. (NASDAQ: TSLA), which fell 5.3 per cent after President Trump escalated tensions with CEO Elon Musk. US Federal Reserve Chair Jerome Powell maintained a cautious stance on interest rates, citing tariff-related inflation concerns, while stronger-than-expected May job openings supported a patient monetary approach.

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Written by Atchison3, Jul 2025

Daily Market Update: 3 July, 2025

The key takeaways from the last 24 hours

ASX hits record high amid mining rally and rate cut hopes
The Australian share market reached a new peak on Wednesday, with the S&P/ASX 200 Index rising 0.7 per cent to close at 8597.7, narrowly surpassing its previous high. A rotation into underperforming sectors, especially mining and real estate, drove the advance, as investors responded to soft May retail sales data suggesting a higher likelihood of a Reserve Bank of Australia rate cut next week. BHP Group Limited (ASX: BHP) gained 1.7 per cent, Fortescue Metals Group Limited (ASX: FMG) rose 3.8 per cent, and Rio Tinto Limited (ASX: RIO) added 2.1 per cent following a rebound in commodity prices.

 

Property and tech diverge; Qantas, Helia and Domino’s slide
Real estate stocks climbed in anticipation of monetary easing, with Goodman Group (ASX: GMG), Mirvac Group (ASX: MGR), Stockland Corporation Limited (ASX: SGP) and Scentre Group (ASX: SCG) all rising more than 2 per cent, while Dexus (ASX: DXS)surged 3.1 per cent. However, technology stocks lagged, tracking losses in US tech; Life360 Inc (ASX: 360) fell 2.6 per cent, Xero Limited (ASX: XRO) dropped 2.1 per cent, and NextDC Limited (ASX: NXT) slipped 1.1 per cent. In corporate developments, Qantas Airways Limited (ASX: QAN) dropped 2.2 per cent amid a major customer data breach. Helia Group Limited (ASX: HLI) plunged 21.4 per cent on news of losing key clients, while Domino’s Pizza Enterprises Limited (ASX: DMP) sank 15.8 per cent following its CEO’s resignation. Meanwhile, James Hardie Industries plc (ASX: JHX) gained 5.3 per cent, and Perpetual Limited (ASX: PPT) and Magellan Financial Group Ltd (ASX: MFG) rose sharply after positive analyst updates.

 

Wall Street hits new highs despite weak jobs data
On Wall Street, the S&P 500 Index and Nasdaq Composite Index rose 0.5 per cent and 0.8 per cent, respectively, with the S&P 500 setting a new record. Gains were driven by technology giants, including Apple Inc (NASDAQ: AAPL), NVIDIA Corporation (NASDAQ: NVDA), and Tesla Inc (NASDAQ: TSLA). A US-Vietnam trade deal and soft private payrolls data lifted rate cut expectations from the Federal Reserve. However, the ADP report revealed a surprise drop of 33,000 private-sector jobs in June, the first decline in over two years, sparking fresh economic concerns. Meanwhile, the Senate passed President Trump’s tax-and-spending package, expected to increase the national debt by $3.4 trillion, though its path through the House remains uncertain.

 

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