Markets Today (20 October 2025) at Open: Key Trends from Wall Street to ASX

1. ASX Outlook

The ASX 200 is trading around 8,997, just up 1.7 points (+0.02%) at market open. That’s essentially flat, showing investors are still cautious after a few volatile sessions last week.

2. Overnight US Markets:

US markets were mostly higher after a shaky start, ending near session highs.

S&P 500: +0.53%

Dow Jones: +0.52%

NASDAQ: +0.52%

Russell 2000: fell -0.60% (so smaller companies lagged behind).

In simple terms: The big end of town rallied, but smaller and riskier US stocks didn’t join the party.

3. US Sector Performance

•  A broad-based recovery across most sectors, led by consumer staples and financials, while materials slipped — likely linked to falling gold and metal prices.

4. Commodities

Gold down sharply -1.81%, and other precious metals followed:

• Silver: -4.2%
• Palladium: -9.4%
• Platinum: -5.2%

Gold pulled back sharply after its huge rally last week, while base metals like copper held up — showing confidence in industrial activity.

5. What to Watch Today (ASX Focus)

Larvotto Resources (LRV): United States Antimony Corp disclosed a 10% stake in the company.

Zip Co (ZIP):

Q1 revenue up 11.3% quarter-on-quarter to $318.5m.  Cash EBITDA up 98% year-on-year to $62.8m.  Buyback limit doubled from $50m to $100m.

6. Broker Move:

Iluka Resources (ILU):

• Downgraded to Neutral from Overweight by JPMorgan.

• However, price target raised to $7.25 from $6.75.

• This means JPM still sees some upside, but less conviction after recent gains.

7. Stocks Trading Ex-Dividend

Today, stocks trading ex-dividend include:

Clover Corp (CLV): $0.01 per share

WAM Capital (WAM): $0.077 per share.

Ex-dividend” means if you buy these shares today, you won’t receive the upcoming dividend.

Our take at Kapitales Research:

• Resources pullback:
  A big overnight sell-off hit high-flying resource stocks.

Analysts suggest the recent “FOMO” rush into gold and metals may have hit a near-term top — meaning we could see some cooling in that sector today.

ASX likely to trade steady to slightly higher, supported by Wall Street’s rebound.

Financials and consumer sectors may stay firm.

Resources could face selling pressure after the big global metals correction.

Watch for reactions at 1 PM when China’s data comes out — it’ll be key for market direction this afternoon.

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