Good morning everyone and welcome to Rise and Shine on Tuesday, August 5, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST, ASX futures were up a full 1%, a strong signal the local market’s ready to rip on Tuesday.

Wall Street bounced hard overnight, and here’s the full wrap of what went down while you were sleeping…

 

Wall Street buys the dip

The Dow jumped 1.34%, the S&P 500 rose 1.47%, and the Nasdaq ran away with a 1.95% gain.

It was the best session for the US indices since May, and you can thank a few big tech names for turning things around.

STOCK INDICES	Value	Change
ASX 200 (previous day)	8,664	0.02%
S&P 500	6,330	1.47%
Dow Jones	44,174	1.34%
Nasdaq Comp	21,054	1.95%
Euro Stoxx 50	5,242	1.49%
UK FTSE	9,128	0.66%
German DAX	23,758	1.42%
French CAC	7,632	1.14%

 

Nvidia climbed 3.6% after Friday’s jitters left it bruised. Meta followed with a 3.5% rebound, and Microsoft rose to an all-time high.

Elon Musk just bagged a US$29 billion Tesla stock award, because apparently being the world’s richest man wasn’t quite enough motivation to stick around.

Meanwhile, Fundstrat’s Tom Lee reckons the S&P 500 is gunning for all-time highs, calling Friday’s sell-off just a bump in the rally.

Over at Evercore, Julian Emanuel sees volatility ahead and warns of a 15% drop, but even he’s not screaming sell.

His advice: “Stay invested strategically in a core thematic portfolio of AI enablers, adopters and adapters.”

But Morgan Stanley’s Mike Wilson says a 10% correction on Wall Street is on the cards this quarter, as tariffs bite and valuations look stretched.

 

What’s Trump been up to?

The July jobs report came in weak, and Trump has fired the commissioner of the Bureau of Labor Statistics, promising to replace her “soon.”

That’s one way to tackle soft data.

At the same time, he’s threatening India with a “substantial” hike unless it stops buying Russian oil.

India replied with a diplomatic shrug. “These are long-term contracts,” an Indian official said. “Not so simple to stop overnight.”

China, for its part, also isn’t backing down on Russian crude imports.

So Trump’s new 100% secondary sanctions could light a fuse under oil markets.

 

Oil dips, but traders are getting twitchy

Oil prices took a knock as OPEC+ promised more supply.

Brent crude is hovering below US$69 a barrel, down from last week’s Trump-fuelled spike.

And traders are getting nervous.

If Trump goes ahead with sanctions on India and slaps 100% tariffs on Russian crude buyers, we’re looking at potential chaos in global supply.

That’s seven million barrels a day of Russian oil at risk, and ING says it could tip the world into deficit.

But demand forecasts remain weak, and OPEC is pumping more.

So for now, oil is walking a tightrope, and ASX energy stocks may stay jumpy.

 

And finally…

Back on Aussie soil, Tuesday’s looking tame.

Credit Corp Group (ASX:CCP) reports earnings, giving investors a glimpse into the world of debt collection.

But the real data watch comes at 11:30am AEST, when the June household spending indicator drops.

NAB expects a 0.9% monthly rise, which would lift the annual rate to 5%.

If they’re right, it adds weight to the idea that the economy has picked up steam.

 

Commodity/forex/crypto market prices

	Price (US)	Move
Gold:	$3,373.39	0.31%
Silver:	$37.42	1.04%
Iron ore:	$99.57	0.45%
Nickel:	$15,105	0.57%
Copper:	$8,859	0.30%
Zinc:	$2,752	0.71%
Lithium carbonate 99.5% Min China Spot:	$8,550	0.60%
Oil (WTI):	$66.24	-1.62%
Oil (Brent):	$68.72	-1.36%
AUD/USD:	$0.6467	0.02%
Bitcoin:	$114,981	0.67%

 

What got you talking

Also in the news…

ASX July Winners: The ASX added 2.36% in July, with the healthcare sector staging a strong recovery during the month despite being the worst performing sector of the market in the year to date.

Rett syndrome is the kind of diagnosis that hits hard and lingers long. Until recently, there was no approved treatment for Rett, only a patchwork of management strategies and hope.

Health Check: Cancer drug developers drive further positive Car-T results.

Diggers and Dealers: Gold is at an all-time high, but will miners swallow their own gains?

 

Trading halts

Babylon Pump & Power (ASX:BPP) – potential acquisition and debt funding
BMG Resources (ASX:BMG) – cap raise
Caprice Resources (ASX:CPR) – exploration results
Corazon Mining (ASX:CZN) – acquisition, MD appointment and cap raise
Critical Resources (ASX:CRR) – proposed acquisition
Resolution Minerals (ASX:RML) – potential project sale

 

 
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This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.