Markets Today (13 October 2025) at Open: Key Trends from Wall Street to ASX

1. ASX Outlook

• ASX SPI 200 trading at  8,909 AUD (▼0.55%) – showing a weaker weekly open for the ASX.
• Analysts view this as a healthy pullback after an extended rally.
• However, uncertainty around AI valuations, crypto, and tariff escalation is increasing investor caution.
• Investors are rotating out of US assets into gold and Bitcoin, citing global instability.

2. Overnight US Markets:

Major indices plunged sharply.

• • S&P 500: 6,553 (▼2.71%) – worst session since April.
  • Dow Jones: 45,480 (▼1.90%)
  • NASDAQ: 22,204 (▼3.56%)
  • Russell 2000: 2,395 (▼3.01%)
• Summary: Heavy selloff across all sectors amid renewed US–China trade tensions. Weekly gains were completely wiped out

3. US Sector Performance

Best Performer: Consumer Staples ▲0.25% (defensive play).

Worst Performers:

Information Technology ▼3.97%

Consumer Discretionary ▼3.29%

Energy ▼2.80%

Overall: Broad-based weakness, especially in high-growth and cyclical sector.

4. Commodities

Gold: ▲1.02% to $4,015.59 – investors moving to safe-haven assets.

Copper: ▼6.16% – hit hard due to tariff and growth concerns.

WTI Oil: ▼1.16% – lower demand outlook amid economic uncertainty

Key Drivers Behind the Selloff

• Trade Tensions:
  • Trump announced 100% tariffs on Chinese imports, threatening to cancel his meeting with Xi.
  • China retaliated with new port fees on US vessels and hinted at tighter export controls.
• Geopolitical Moves:
  • Pentagon to procure $1bn in critical minerals to reduce Chinese dependency.
  • US–Japan advancing trade cooperation; US–Saudi nearing a chip export deal.
• Shutdown Concerns:
  • Ongoing US government shutdown; Senate passed defense bill but funding negotiations continue.

6. Stocks Trading Ex-Dividend

Today, stocks trading ex-dividend include:

Civmec (CVL): $0.035

Shriro Holdings (SHM): $0.03

Turners Automotive Group (TRA): $0.062

7. Broker Moves

• Upgrades:
  • Newmont (Buy, Target $161.30)
  • Netwealth Group (Buy, Target $35)
  • Qube Holdings (Overweight, Target $4.50)
  • Regis Resources (Neutral, Target $6.50)
• Downgrade:
  • Sandfire (Sell, Target $14.50)

Our take at Kapitales Research:

Expect volatility to remain high as markets digest trade headlines and tariff responses. Watch for potential policy easing or trade negotiation progress — any signs of cooperation could trigger a rebound.

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