Daily Market Update: 17 November 2025

The Australian share market concluded the week on a downturn on Friday, with the benchmark S&P/ASX 200 Index (ASX: XJO) shedding 118.9 points, or 1.4 per cent, to reach a 50-day low at 8,634.5 points. It was the fourth day of declines in a row for the S&P/ASX 200 Index (ASX: XJO), as well as its third straight week of losses. For the week, the S&P/ASX 200 Index (ASX: XJO) surrendered 135 points, or 1.5 per cent. Year to date, the Australian benchmark is up 5 per cent.

In the US, stocks recovered from earlier losses on Friday, as investors await more economic data in the coming days ahead of the Federal Reserve’s next rate decision in December. Friday’s session saw the broad S&P 500 Index (NYSE: SPX) lose 3.38 points, to 6,734.11, while the blue-chip Dow Jones Industrial Average (NYSE: DJI) gave up 309.74 points, or 0.7 per cent, to 47,147.48. The tech-heavy Nasdaq Composite Index (NASDAQ: IXIC) managed a close in the green, up 30.23 points, or 0.1 per cent, to 22,900.59.

For the week, the Dow Jones Industrial Average (NYSE: DJI) posted a 0.3 per cent gain; the S&P 500 Index (NYSE: SPX) edged ahead by less than 0.1 per cent; and the Nasdaq Composite Index (NASDAQ: IXIC) took a 0.5 per cent loss.

Some big tech names recovered, with Nvidia Corporation (NASDAQ: NVDA), Microsoft Corporation (NASDAQ: MSFT), Oracle Corporation (NYSE: ORCL), and Palantir Technologies Inc. (NYSE: PLTR) each rising between 1.1 per cent and 2.4 per cent, as investors reassessed the likelihood of a December rate cut. The market is still grappling with stretched AI valuations, and while the end of the lengthy government shutdown during the week removed one source of uncertainty, there are indications that some crucial economic data releases may not only have been delayed by the shutdown but might not come out at all, leaving traders without clear signals ahead of the next Fed decision — which is a recipe for further volatility. Traders now see less than 50 per cent chance of a 25-basis-point rate cut next month, down from about 95 per cent a month ago.

For example, the Labor Department says it will release a key report on the September job market on Thursday, almost seven weeks behind schedule. The timing of other key economic reports is still up in the air. The government needs to conduct surveys and price checks before it can report on October’s job gains and inflation rate. Reports on consumer spending and GDP are also overdue, leaving businesses, investors and policymakers looking for other clues about the strength or weakness of the US economy — such as private-sector data on hiring and firing, as well as anecdotal reports from a wide range of business contacts. 

Bitcoin fell below US$96,000 for the first time in over six months. The cryptocurrency bellwether is down more than 20 per cent from its peak in October.