Everything you need to know before the ASX opens

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01-07-2025

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Good morning everyone and welcome to Rise and Shine on Tuesday, July 1, 2025. Here's what you should know before the ASX opens today…
The ASX looks set to kick Tuesday off on the front foot, with futures up 0.1% by 7am AEST, riding the wave from Wall Street's strong finish to the quarter.
Wall Street rockets to record highs
Wall Street wrapped up the quarter with record highs.
The Dow climbed 0.6%, while both the S&P 500 and Nasdaq rose 0.5%, cementing one of the strongest quarters since 2023.
STOCK INDICES Value Change ASX 200 (previous day) 8,542 0.33% S&P 500 6,205 0.52% Dow Jones 44,095 0.63% Nasdaq Comp 20,370 0.47% Euro Stoxx 50 5,303 -0.42% UK FTSE 8,761 -0.43% German DAX 23,910 -0.51% French CAC 7,666 -0.33%
The S&P 500 has now surged 25% since its April lows, a rally so sharp it's making even seasoned bulls wonder if the index is getting ahead of itself.
Tech was back in the driver's seat. Oracle shot 4% higher on the back of a jaw-dropping US$30 billion annual cloud deal with an unnamed client. This single contract is worth nearly triple the size of its entire cloud business.
Microsoft and Meta both touched new highs, with Zuck announcing a bold new pivot into AI 'superintelligence,' tapping Alexandr Wang to lead Meta's newly formed Superintelligence Labs.
Apple, meanwhile, is reportedly flirting with OpenAI and Anthropic to power its next-gen Siri, finally admitting its in-house AI efforts might need outside help.
And trading platform Robinhood jumped to all-time highs after unveiling tokenised stock trading across the EU. That's right, 24/5 trading of tokenised US equities for 150,000 users.
Gold jumps as the greenback wilts
Gold perked up by 1% as the US dollar sagged to its weakest point since early 2022.
With rate cut whispers growing louder and Trump heckling the Fed like a dad on the sidelines, traders started edging back into safe-haven mode.
Investors decided it might be wise to keep a little bullion tucked under the mattress.
Powell's chair isn't looking so comfy
Donald Trump is now actively auditioning for Fed Chair scout.
Trump took a global interest rate chart, signed it, and sent it directly to Jerome Powell with a not-so-subtle note: cut rates, or else.
On Truth Social, Trump accused the Fed of costing America 'a fortune' and said Powell 'should be ashamed.'
He wants the Fed funds rate slashed to 1%, pronto.
Treasury Secretary Scott Bessent admitted there's a shortlist of replacements already being discussed - names like Christopher Waller, Kevin Warsh, and David Malpass are doing the rounds. Trump doesn't have to wait until Powell's term ends next May.
But for markets, the next big test looms: Thursday's US June jobs report could shift the mood fast.
If hiring slows and unemployment ticks up, the 'bad news is good news' crowd might start betting even harder on a Fed cut.
Commodity/forex/crypto market prices
Price (US) Move Gold: $3,303.00 1.06% Silver: $36.11 0.35% Iron ore: $94.47 -0.02% Nickel: $15,196.00 -0.22% Copper: $10,110.40 -0.25% Zinc: $2,752.70 -1.07% Lithium carbonate 99.5% Min China Spot: $8,150.00 0.00% Oil (WTI): $64.99 -0.80% Oil (Brent): $66.56 -0.36% AUD/USD: $0.6577 0.49% Bitcoin: $107,505 -0.81%
What got you talking
Also in the news…
Health Check: Tetratherix breaks biotech IPO drought with 13pc gain on debut.
Despite the downturn in lithium prices, battery giants are quietly hedging their bets and locking in supply before a forecasted surge.
Kristie Batten: Koonenberry Gold sees shades of De Grey success story at Sunnyside.
Hot Money Monday: Treasurers swap term deposits for Bitcoin as ASX firms dive in.
TRADING HALTS
Australian Mines (ASX:AUZ) – cap raise and potential acquisition
AuKing Mining (ASX:AKN) – cap raise
Battery Age Minerals (ASX:BM8) – cap raise
Blackstone Minerals (ASX:BSX) – cap raise
archTIS (ASX:AR9) – cap raise
Lodestar Minerals (ASX:LSR) – cap raise
Liontown Resources (ASX:LTR) – executive changes
Olympio Metals (ASX:OLY) – cap raise
Peak Minerals (ASX:PUA) – response to ASX price query
Red Mountain Mining (ASX:RMX) – cap raise
Rent.com.au (ASX:RNT) – cap raise
Terra Uranium (ASX:T92) – acquisition and cap raise
Vitasora Health (ASX:VHL) – cap raise
At Stockhead, we tell it like it is. While Brightstar Resources is a Stockhead advertiser, it did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Rise and Shine: Everything you need to know before the ASX opens