The ASX 200 surged over 100-points on Thursday, embracing the “risk on” thematic which cascaded through global markets after Nvidia beat expectations to reignite the “AI Trade”. It was the upbeat nature of the world's largest stock that got the tech sector excited, with Nvidia trading up ~5% in post market trade pushing NASDAQ Futures +1.5% following the result and bullish outlook:
The ASX 200 posted another 5-month low on Wednesday as the banks dragged the index down by 0.25%, offsetting further gains in the materials and energy sectors. Concerns over upcoming US jobs data and Nvidia’s earnings, now the world’s largest stock, cast a long shadow over an otherwise comparatively quiet Australian market, which saw less than 3% of the main board move in either direction by more than 5%.
The ASX200 was unceremoniously clobbered over 160-points on Tuesday, ending the brutal session at its lowest level in five months - the index has now fallen by more than 7% from its October high.
The ASX 200 managed to eke out a small gain on Monday after starting the session on the back foot. Buying crept in throughout the day, reversing an initial 0.5% drop to close marginally higher, helped by firm US futures. Tech and energy stocks led the gains through a relatively quiet session, which only saw 3% of the main board move by over 5%.
Wall Street may have notched its worst day in over a month on Thursday, but one category of assets has fared far worse this week — meme stocks. One painful example is NuScale Power (SMR US), a popular stock in the US used to play the power generation buildout theme for AI data centres, which plummeted ~50% last week, extending its losses from mid-October.
Volatility is on the increase in equities, but it's already been high in recent months across the commodity markets, from precious metals to lithium and copper. The moves have been significant as investors and traders have battled with the usual supply and demand fundamentals, combined with the almost random-like comments coming out of the Whitehouse. However, while the resources sector hasn’t been for the fainthearted, it has outperformed in 2025, with the Materials Index up 24% year-to-date, while the previously much-loved tech space is down 11%.
This morning, we updated our views across 6 commodities using related ETFs as the need to keep our finger on the pulse increases.
The ASX200 closed down 0.2% on Wednesday, reversing early gains and closing below the psychological 8800 level. Over 50% of the main board closed higher, but another 3% drop by CBA was enough to drag the index lower, with Australia's largest bank now over 17% below its June high.
The ASX200 started Tuesday in an encouraging fashion, up ~0.5%, as the US government neared a reopening deal, before the index reversed to close down 17 points, or 0.2%. The weakness was almost entirely down to CBA, even though winners outstripped losers by 2:1, when the ASX's largest stock tumbles 6.6%, the local bourse is going to struggle to close higher.
The ASX 200 rallied strongly on Monday, closing up +0.8% with 70% of the main board finishing higher. The local bourse enjoyed a strong tailwind from US futures and commodity prices as risk markets bounced on the news of the imminent end to the US government shutdown.
The stock market didn’t crash last week, but after 7-months of “risk-on” enthusiasm, cracks have started to emerge. Rich valuations and fresh doubts over the real-world payoff of AI dragged US tech stocks to their worst week since April.
The ASX 200 posted another 5-month low on Wednesday as the banks dragged the index down by 0.25%, offsetting further gains in the materials and energy sectors. Concerns over upcoming US jobs data and Nvidia’s earnings, now the world’s largest stock, cast a long shadow over an otherwise comparatively quiet Australian market, which saw less than 3% of the main board move in either direction by more than 5%.
The ASX200 was unceremoniously clobbered over 160-points on Tuesday, ending the brutal session at its lowest level in five months - the index has now fallen by more than 7% from its October high.
The ASX 200 managed to eke out a small gain on Monday after starting the session on the back foot. Buying crept in throughout the day, reversing an initial 0.5% drop to close marginally higher, helped by firm US futures. Tech and energy stocks led the gains through a relatively quiet session, which only saw 3% of the main board move by over 5%.
Wall Street may have notched its worst day in over a month on Thursday, but one category of assets has fared far worse this week — meme stocks. One painful example is NuScale Power (SMR US), a popular stock in the US used to play the power generation buildout theme for AI data centres, which plummeted ~50% last week, extending its losses from mid-October.
Volatility is on the increase in equities, but it's already been high in recent months across the commodity markets, from precious metals to lithium and copper. The moves have been significant as investors and traders have battled with the usual supply and demand fundamentals, combined with the almost random-like comments coming out of the Whitehouse. However, while the resources sector hasn’t been for the fainthearted, it has outperformed in 2025, with the Materials Index up 24% year-to-date, while the previously much-loved tech space is down 11%.
This morning, we updated our views across 6 commodities using related ETFs as the need to keep our finger on the pulse increases.
The ASX200 closed down 0.2% on Wednesday, reversing early gains and closing below the psychological 8800 level. Over 50% of the main board closed higher, but another 3% drop by CBA was enough to drag the index lower, with Australia's largest bank now over 17% below its June high.
The ASX200 started Tuesday in an encouraging fashion, up ~0.5%, as the US government neared a reopening deal, before the index reversed to close down 17 points, or 0.2%. The weakness was almost entirely down to CBA, even though winners outstripped losers by 2:1, when the ASX's largest stock tumbles 6.6%, the local bourse is going to struggle to close higher.
The ASX 200 rallied strongly on Monday, closing up +0.8% with 70% of the main board finishing higher. The local bourse enjoyed a strong tailwind from US futures and commodity prices as risk markets bounced on the news of the imminent end to the US government shutdown.
The stock market didn’t crash last week, but after 7-months of “risk-on” enthusiasm, cracks have started to emerge. Rich valuations and fresh doubts over the real-world payoff of AI dragged US tech stocks to their worst week since April.
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