Markets Today (11 September 2025) at Open: Key Trends from Wall Street to ASX

ASX & Global Markets Overview

• ASX 200 futures are currently down 20 points (-0.22%) at 8:30 am AEST.
• US markets had mixed performances overnight. The S&P 500 and Nasdaq hit record highs, driven largely by strong tech earnings and investor optimism.
• Dow Jones underperformed, reflecting a defensive stance, while smaller companies like those in the Russell 2000 lagged slightly.

US Market Highlights

• The S&P 500 closed at 6,532 (+0.30%), Dow Jones at 45,491 (-0.48%), and Nasdaq at 21,886 (+0.03%).
• Oracle shares surged 35.9% after announcing a massive 359% year-on-year increase in its contract backlog, making it the 10th largest company on the S&P 500.
• Wall Street expects a hot inflation report later today but analysts believe the stock market reaction will be modest as attention remains on job market data.
• Bond yields are declining as traders anticipate more rate cuts, with some projections placing the Fed’s rate below neutral to avoid recession risks.

Key Drivers in US Markets

• Oracle’s growth in cloud infrastructure boosted investor confidence.
• AI-related stocks saw target upgrades, with Barclays lifting the S&P 500 target to 6,450 based on strong earnings and enthusiasm around AI.
• Treasuries attracted bullish positions ahead of inflation data.
• Hedge funds are increasing bullish bets on the Japanese yen after hints of potential rate hikes from the Bank of Japan.
• China’s bond market continues to face pressure, with long-term yields reaching their highest since late 2024.

Other Notable US Developments

• Larry Ellison overtook Elon Musk as the world’s richest person.
• OpenAI and Oracle signed a $300 billion contract for cloud computing over five years.
• Apple unveiled its thinnest iPhone yet, although compromises were made on battery and camera performance.
• Microsoft announced the acquisition of Anthropic’s AI tech, and Google Cloud’s commitments are projected to generate significant future revenue.
• TSMC exceeded expectations with a 34% revenue growth in August.
• Novo Nordisk cut jobs and reduced its profit forecast amid rising competition.
• ExxonMobil expects long-term gas deals with Europe, and GameStop’s profits surged in Q2.

Global Indices Snapshot

• Canada +0.40%, India +0.40%, Japan +0.87%, Hong Kong +1.01%.
• Germany -0.36%, UK -0.19%.
• Markets show mixed strength, with Asian equities rallying amid leadership changes and reforms.

Commodities Update

Gold

• Closed at a record $3,641/oz (+0.43%).
• The surge reflects increased demand for safe-haven assets amid inflation fears and global uncertainties.

Copper

• Up +0.96%, driven by optimism in industrial demand, especially from emerging markets.

WTI Oil

• Rose +1.67%, supported by geopolitical tensions and supply constraints.

Lithium & Battery Tech

• Fell -1.79%, after steep losses in previous sessions as market sentiment remains cautious over long-term demand forecasts.

Steel & Silver

• Steel +1.31% and Silver +0.62%, supported by infrastructure spending and renewed industrial demand.

Other Metals

• Uranium +0.60%, Strategic Metals -4.19%, indicating selective buying and profit-taking in specialized sectors.

ASX Today – Key Corporate Moves

• Brickworks and Soul Patts merger approved, set for implementation by 23 September.
• Newmont is applying for delisting from the TSX but will remain on other exchanges.
• Perenti secured a $300 million contract over four years.
• Ridley Corp’s major shareholder sold a 5% stake, reflecting a 3.9% discount to the last close.

What to Watch

• Gold miners could see continued interest after the record close.
• Lithium stocks may attempt to stabilise following steep declines, with names like SQM and Albemarle posting modest gains overnight.
• Keep an eye on how local lithium stocks respond today.

Summary

US markets saw record highs for major indices, with Oracle’s surge and AI optimism driving tech stocks. Inflation concerns are shaping bond markets, while commodities like gold and copper gained as safe-haven demand and industrial activity ramped up. Lithium stocks remain under pressure, while gold miners could attract further buying. Globally, markets showed mixed performance, with Japan and India leading gains. Key economic data on inflation and producer prices later today could influence near-term market moves.

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