Morning Wrap: ASX to open higher after US stocks and Bitcoin bounce. All eyes on GDP at 11:30 am
ASX 200 futures are up 18pts (+0.20%) as of 8:30 am AEDT.
In this article
ASX 200 futures are up 18pts (+0.20%) as of 8:30 am AEDT.
In a nutshell:
Aussie market set for a positive start after US stocks gained overnight
Bitcoin bounced and tech stocks advanced
All eyes will be on today’s GDP release and its potential impact on rate decisions
Let's dive in.
Overnight Summary
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
 S&P 500 | 6,829 | +0.25% |
Dow Jones | 47,474 | +0.39% |
NASDAQ Comp | 23,414 | +0.59% |
Russell 2000 | 2,471 | +0.08% |
Country Indices | ||
 Canada | 31,049 | -0.17% |
 China | 3,898 | -0.42% |
 Germany | 23,711 | +0.51% |
 Hong Kong | 26,095 | +0.24% |
 India | 85,138 | -0.59% |
 Japan | 49,303 | +0.00% |
 United Kingdom | 9,702 | -0.01% |
Name | Value | % Chg |
|---|---|---|
Commodities (USD) | ||
 Gold | 4,209.16 | -0.53% |
 Copper | 5.1607 | -0.24% |
 WTI Oil | 58.61 | -1.21% |
Currency | ||
 AUD/USD | 0.6564 | +0.31% |
Cryptocurrency | ||
 Bitcoin (USD) | 91,175 | +6.47% |
 Ethereum (AUD) | 4,548 | +8.13% |
Miscellaneous | ||
US 10 Yr T-bond | 4.086 | -0.24% |
VIX | 16.5 | -4.29% |
US Sectors
Sector | % Chg |
|---|---|
| Industrials | +0.87% |
| Information Technology | +0.84% |
| Communication Services | +0.37% |
| Consumer Discretionary | -0.01% |
| Financials | -0.05% |
| Real Estate | -0.20% |
Sector | % Chg |
|---|---|
| Consumer Staples | -0.40% |
| Health Care | -0.58% |
| Utilities | -0.72% |
| Materials | -0.83% |
| Energy | -1.28% |
S&P 500 SESSION CHART
S&P 500 stronger but off session highs (Source: TradingView)
OVERNIGHT MARKETS
Major US benchmarks all closed higher overnight, with the Dow up around 200 points (+0.4%), whilst the S&P (+0.3%) and Nasdaq (+0.6%) also gained
Bitcoin rose 7%, recouping some of its losses from the prior session and pushing back above US$90,000.
Tech players linked to the artificial intelligence trade supported the broader market.
AI chip darling Nvidia increased almost 1%, while AI infrastructure play Credo Technology soared 12% and hit an all-time high on better-than-expected earnings.
STOCKS
OpenAI CEO Sam Altman sent a memo to his staffers outlining a "code red" strategy amid competition from Google (CNBC)
Nvidia CFO says chipmaker has yet to finalise $100 billion OpenAI deal (Reuters)
Intel is reportedly progressing toward supplying Apple with advanced supply chips (Yahoo Finance)
ChatGPT referrals to retailer mobile apps increased 28% Y/Y over Black Friday holiday weekend (TechCrunch)
Boeing CFO expects increased deliveries of 737 and 787 jets to boost cash flow in 2026 (CNBC)
Ford US sales down slightly in November as EVs drag (Reuters)
San Francisco suing Kraft, Mondelez, Coca-Cola, and other producers of ultra-processed foods (Reuters)
GEOPOLITICS & TRADE
Venezuela land strikes will start 'very soon,' Trump says at final Cabinet meeting of the year (Washington Examiner)
Putin met Trump envoys Witkoff and Kushner in Kremlin on Tuesday to discuss Ukraine peace (Axios)
Putin threatens to 'cut Ukraine off from the sea' after attacks on tankers (Reuters)
Hegseth says U.S. has "only just begun" sinking Venezuelan drug trafficking vessels (Axios)
BMW CEO is pushing EU officials to adopt a US trade deal that would give company relief from tariffs (Bloomberg)
ECONOMY
US shoppers spent $14.25B on Cyber Monday, pushing total online Thanksgiving sales to $44.2B (Reuters)
Bankruptcies at mom-and-pop businesses hit another record high in 2025 amid debt struggles (Bloomberg)
Industry ETFs
Name | Value | % Chg |
|---|---|---|
Commodities | ||
| Uranium | 45.2 | +2.26% |
| Silver | 53.12 | +1.14% |
| Steel | 81.42 | +0.41% |
| Strategic Metals | 73.23 | -0.03% |
| Copper Miners | 64.64 | -0.34% |
| Lithium & Battery Tech | 62.75 | -0.43% |
| Gold Miners | 81.61 | -1.46% |
Industrials | ||
| Global Jets | 26.64 | +1.68% |
| Aerospace & Defense | 201.21 | +0.99% |
| Agriculture | 26.425 | +0.51% |
| Construction | 93.9602 | -0.04% |
Healthcare | ||
| Biotechnology | 169.22 | -0.52% |
Name | Value | % Chg |
|---|---|---|
Cryptocurrency | ||
| Bitcoin | 13.46 | +6.57% |
Renewables | ||
| Hydrogen | 36.459 | +1.84% |
| CleanTech | 54.915 | +1.69% |
| Solar | 47.64 | 0.00% |
Technology | ||
| Semiconductor | 302.84 | +1.99% |
| Cybersecurity | 31.43 | +0.93% |
| Electric Vehicles | 29.42 | +0.93% |
| Cloud Computing | 22.68 | +0.67% |
| Sports Betting/Gaming | 21.315 | +0.34% |
| E-commerce | 32.78 | +0.12% |
| FinTech | 30.125 | -0.12% |
| Robotics & AI | 35.15 | -0.28% |
| Video Games/eSports | 110.08 | -0.60% |
ASX TODAY
Vulcan Energy Resources (VUL) – Secured a comprehensive financing package to fully fund construction of Phase One Lionheart Project, with subsidiary PhaseOneCo entering binding agreements for €1.185B (A$2.116B) in debt funding.
Perpetual (PPT) – Market still awaiting confirmation of a sale of its wealth division to Bain, with reports suggesting the transaction remains on track for announcement before Christmas.
Corporate Travel Management (CTD) – Will undergo an independent review of its Australian government work after a UK overcharging issue raised scrutiny; the company says the audit, requested by the government, should take place in the first half of 2026.
BROKER MOVES
AUB Group (AUB) – Goldman Sachs reinstates BUY, PT A$38.00
Beacon Lighting Group (BLX) – Bell Potter initiates BUY, PT A$3.35
Bellevue Gold (BGL) – JPMorgan upgrades to OVERWEIGHT from Neutral, PT A$1.90
Key Events
Stocks trading ex-dividend:
3 December: Fisher & Paykel Healthcare Corporation (FPH) – $0.165; Liberty Financial Group (LFG) – $0.075; Qualitas Real Estate Income Fund (QRI) – $0.009
4 December: Dalrymple Bay Infrastructure (DBI) – $0.061; Whitefield Industrials (WHF) – $0.105
5 December: Bisalloy Steel Group (BIS) – $0.164
Other ASX corporate actions today:
Dividends paid: None
Listing: 4 December: 6K Additive; Exulant Mining, 5 December: Saluda Medical
Earnings: None
AGMs: 5 December: Premier Investments (PMV)
Economic calendar (AEDT):
Australia - GDP Growth Rate QoQ - 11:30 am
