Tuesday 9th December 2025
Daily Market Update: 10 December 2025
Australian market slips on hawkish RBA tone
The benchmark S&P/ASX 200 Index (ASX: XJO) closed down 0.5 per cent at 8,585.90, as investor optimism about further rate cuts was dampened following remarks by Michele Bullock of the Reserve Bank of Australia (RBA) that no further reductions are likely “in the foreseeable future”. With the cash rate held at 3.6 per cent for a fourth straight month, as widely expected, the tone turned firmer with Bullock leaving open the possibility of rate increases in 2026, lifting the Australian dollar to US66.42 cents and sending bond markets to price in about a 40 per cent chance of a rise as early as February.
Technology and consumer stocks lead declines
Rate‑sensitive sectors felt the brunt of the impact. Shares of TechnologyOne Ltd (ASX: TNE) fell 1.6 per cent to A$28.40, Life360 Inc (ASX: 360) dropped 3.9 per cent to A$36.36, and NextDC Ltd (ASX: NXT) lost 2.6 per cent to A$13.78. Bapcor Ltd (ASX: BAP) plunged 21.3 per cent to A$1.85 after cutting first‑half earnings guidance and warning of weaker trading, while consumer‑retailers like Eagers Automotive Ltd (ASX: APE), JB Hi‑Fi Ltd (ASX: JBH) and Harvey Norman Holdings Ltd (ASX: HVN) slid between 1.9 and 2.2 per cent. Energy stocks also weighed: Woodside Energy Group Ltd (ASX: WDS), Santos Ltd (ASX: STO) and Beach Energy Ltd (ASX: BPT) dropped around 1.2–1.4 per cent as oil prices fell on restored production in Iraq. Banking names were mixed — Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corporation (ASX: WBC) both shed 0.6 per cent, while National Australia Bank Ltd (ASX: NAB) and ANZ Group Holdings Ltd (ASX: ANZ) rose 1 per cent and 0.3 per cent respectively.
US markets steady ahead of Fed decision
In the United States, markets were largely steady as investors digested labour data and corporate updates ahead of the Federal Reserve’s upcoming policy decision. The S&P 500 Index (NYSE: SPX) ended little changed, the Nasdaq Composite Index (NASDAQ: IXIC) inched higher, while the Dow Jones Industrial Average (NYSE: DJI) slipped 0.3 per cent. Shares of JPMorgan Chase & Co (NYSE: JPM) sank 4.7 per cent after projecting 2026 expenses significantly above expectations. Nvidia Corporation (NASDAQ: NVDA) edged down 0.3 per cent amid reports that China may limit domestic H200 chip purchases, despite U.S. export clearance. Meanwhile, The Home Depot Inc (NYSE: HD) fell 1.3 per cent on softer growth guidance, as bidders like Paramount Global (NASDAQ: PARA) and Netflix Inc (NASDAQ: NFLX) continued to weigh on sectors tied to media‑merger speculation involving Warner Bros. Discovery Inc (NASDAQ: WBD).
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.5 | 0.6 | -1.3 | -1.5 | 6.2 |
| Financials | 0.0 | 1.5 | -6.2 | -3.8 | 6.7 |
| Resources | -0.9 | 1.2 | 5.5 | 12.1 | 23.3 |
| Information Technology | -1.2 | -1.6 | -7.3 | -16.5 | -8.8 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.1 | -0.5 | -0.4 | 4.9 | 10.3 |
| Europe | -0.3 | -0.2 | 0.6 | 3.5 | 21.2 |
| Japan | -0.4 | 0.2 | -2.3 | 3.4 | 16.5 |
| China top 50 | -1.4 | -0.3 | -2.7 | -0.6 | 24.2 |
| India top 50 | -0.7 | -1.2 | -2.3 | 1.1 | -5.0 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.3 | -0.3 | -1.5 | -1.4 | 1.6 |
| Australian Corporate Bond | -0.1 | -0.3 | -1.4 | -1.2 | 2.5 |
| US Treasury | 0.0 | -0.5 | -0.2 | 0.1 | 3.5 |
| Cash | 0.0 | 0.0 | 0.3 | 0.9 | 4.0 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -0.4 | -1.4 | 2.5 | 14.2 | 49.3 |
| Silver | 0.6 | 0.9 | 17.2 | 40.8 | 75.3 |
| Crude Oil | -2.6 | 0.4 | -1.2 | -4.2 | -2.3 |
| Bitcoin | -1.5 | 0.9 | -10.4 | -17.8 | -7.6 |
