Good morning everyone and welcome to Rise and Shine on Thursday, August 7, 2025. Here’s what you should know before the ASX opens today…

 

At 7am AEST, ASX futures were down 0.3%, pointing to a bit of a limp start on Thursday.

So what happened while we were off in dreamland?

 

Apple leads Wall Street’s charge

On Wall Street overnight, the S&P 500 jumped 0.73%, the Nasdaq leapt 1.21%, and the Dow shuffled 0.18% higher.

STOCK INDICES	Value	Change
ASX 200 (previous day)	8,844	0.84%
S&P 500	6,345	0.73%
Dow Jones	44,193	0.18%
Nasdaq Comp	21,169	1.21%
Euro Stoxx 50	5,263	0.26%
UK FTSE	9,164	0.24%
German DAX	23,924	0.33%
French CAC	7,635	0.18%

 

The spark was a full-blown Apple explosion.

Apple stock surged 5%, not because of a new iPhone, but because CEO Tim Cook turned up at the White House with a billion-dollar bouquet.

Cook has pledged another US$100 billion into US manufacturing, on top of the US$500 billion already in the pipeline.

The goal is obviously to dodge Trump’s tariff tantrum, and looks like it worked.

The White House confirmed Apple would avoid most new import tariffs from India, where it assembles a heap of iPhones.

Elsewhere, Shopify absolutely launched, up 22% after posting blowout numbers for the quarter.

Not everyone had a good night, though. Snap collapsed 17% after a technical glitch in its ad platform sent Q2 numbers off the rails.

Meanwhile, the Fed Reserve’s Neel Kashkari reckons rate cuts could come “soon,” with two still expected before year’s end.

“The economy is slowing,” he told CNBC.

 

What’s Trump been up to?

While Tim Cook was fist-bumping Trump in DC, the President was busy kicking India in the shins.

Trump just doubled tariffs on Indian goods to 50%, accusing India of fuelling Russia’s war machine by buying too much crude from Putin.

Trump also warned other energy-buying nations like China they could be next.

 

ASX energy stocks on watch today

Brent crude and WTI both climbed by over 1% last night.

Trump’s tariff slap on India over Russian oil sparked fears of tighter global supply.

If other buyers get whacked too, we could be looking at less demand for Russian barrels, and more stress on already brittle energy markets.

 

And finally…

Locally, AMP and Light & Wonder report results today.

Not always the most thrilling duo, but AMP’s numbers could give insight into wealth flows and super balances.

At 11.30am AEST, we get Australia’s June trade balance, which will show how we’re doing selling rocks and buying stuff.

And in China, we get July trade data, which will say a lot about whether the world’s second-largest economy is still trying to find second gear.

 

Commodity/forex/crypto market prices

	Price (US)	Move
Gold:	$3,369.20	-0.35%
Silver:	$37.83	0.02%
Iron ore:	$101.36	0.59%
Nickel:	$15,130	0.50%
Copper:	$8,782	0.47%
Zinc:	$2,796	1.28%
Lithium carbonate 99.5% Min China Spot:	$8,550	0.60%
Oil (WTI):	$64.27	-1.37%
Oil (Brent):	$66.77	-1.29%
AUD/USD:	$0.6503	0.31%
Bitcoin:	$115,180	0.92%

 

What got you talking

Also in the news…

Health Check: Probe steriliser Nanosonics (ASX:NAN) cleans up with second FDA approval.

Diggers and Dealers: Forget Trump, miners remain bullish ‘scarcity pricing’ will return for lithium.

Dr Boreham’s Crucible: Telix Pharmaceuticals (ASX:TLX) has homework but remains dux of radioimaging class.

 

Trading halts

FBR Ltd (ASX:FBR) – cap raise
Silex Systems Ltd (ASX:SLX) – cap raise

 

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