Monday 8th December 2025
Daily Market Update: 09 December 2025
ASX Drifts Lower Ahead of RBA – Gold Miners Retreat
The Australian market opened the week on a softer footing as investors positioned cautiously ahead of Tuesday’s Reserve Bank of Australia decision. The S&P/ASX 200 slipped 0.1 per cent, with most sectors in negative territory as expectations firmed that Governor Michele Bullock may adopt a tougher stance on inflation despite rates likely remaining on hold. Gold names lagged after a pullback in the metal, with Newmont (NEM) down 2.1 per cent, Northern Star (NST) off 1.4 per cent and West African Resources (WAF) sliding 4.2 per cent. Lithium provided a bright spot, with Liontown (LTR) soaring 14.8 per cent and Pilbara Minerals (PLS) gaining 6.1 per cent following a sector upgrade from UBS.
Corporate Moves Dominate Local Trade as Investors Await Policy Signals
A quiet domestic news flow saw selective moves among individual names. Ainsworth Game Technology (AGI) reiterated expectations for FY25 underlying pre-tax profit of $21.5 million, down year on year following weaker North American demand. National Storage REIT (NSR) rose 2.2 per cent after accepting a $4 billion takeover proposal from a Brookfield–GIC consortium, offering investors $2.86 per stapled security. DigiCo Infrastructure REIT (DCI) dipped 1.1 per cent after appointing Michael Juniper as CEO, while TechnologyOne (TNE) edged higher as the company reaffirmed confidence in its CFO amid historical scrutiny tied to a prior employer. With four major central banks delivering decisions this week, rate guidance and inflation commentary remain the key catalysts likely to set the tone for equities into the weekend.
Wall Street Softens as Investors Reassess Fed Outlook
US equities eased overnight as markets recalibrated expectations for the Federal Reserve’s 2026 policy path. The S&P 500 fell 0.3 per cent, the Dow Jones dropped 0.4 per cent and the Nasdaq slipped 0.2 per cent, even as a Wednesday rate cut remains almost fully priced. Corporate activity dominated headlines: Warner Bros. Discovery (WBD) climbed 4.4 per cent after Paramount Skydance launched a US$30-per-share bid, topping Netflix’s (NFLX) earlier proposal; Paramount (PARA) surged 9 per cent while Netflix fell 3.4 per cent. Elsewhere, Confluent (CFLT) jumped 29.1 per cent after IBM (IBM) confirmed an US$11 billion acquisition, Tesla (TSLA) declined 3.4 per cent on a broker downgrade, and Carvana (CVNA) rallied 12.1 per cent after securing entry into the S&P 500. Tech sentiment also firmed around Broadcom (AVGO), which hit record highs amid reports Microsoft (MSFT) is exploring custom chip development with the company.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.1 | 0.8 | -1.3 | -1.9 | 5.8 |
| Financials | 0.3 | 1.4 | -6.4 | -4.7 | 4.6 |
| Resources | -0.6 | 2.9 | 6.4 | 12.6 | 28.1 |
| Information Technology | 0.7 | -1.5 | -6.2 | -15.5 | -11.2 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.3 | -0.5 | -0.4 | 5.0 | 11.6 |
| Europe | -0.5 | -0.5 | 0.6 | 3.3 | 22.0 |
| Japan | -0.1 | -0.3 | -2.3 | 2.1 | 17.6 |
| China top 50 | -0.1 | -0.2 | -2.7 | 0.8 | 25.0 |
| India top 50 | -0.4 | -1.6 | -1.6 | 2.1 | -3.0 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.1 | -0.6 | -1.5 | -1.4 | 2.0 |
| Australian Corporate Bond | -0.1 | -0.5 | -1.4 | -1.1 | 2.9 |
| US Treasury | -0.2 | -0.5 | -0.2 | 0.4 | 3.5 |
| Cash | 0.0 | 0.0 | 0.3 | 0.9 | 4.1 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -0.6 | -1.2 | 3.5 | 15.7 | 54.0 |
| Silver | 0.1 | -0.3 | 16.3 | 39.7 | 78.0 |
| Crude Oil | 1.1 | 1.3 | 0.8 | -1.7 | 0.0 |
| Bitcoin | 0.8 | 5.2 | -12.7 | -20.6 | -10.5 |
