Sunday 30th November 2025
Daily Market Update: 1 December 2025
Australian Market Overview
The Australian market ended the week on a steady footing, with the S&P/ASX 200 finishing flat at 8614.1, though it still gained 2.3 per cent across the week as global sentiment improved on expectations of a US Federal Reserve rate cut next month. November remained weak overall, with the index down 3 per cent as Australia’s more persistent inflation profile reduces the likelihood of the RBA easing in tandem with the Fed. Technology and consumer staples led gains, with WiseTech Global, Life360, TechnologyOne, Woolworths and Endeavour all stronger, while financials lagged as CBA, NAB, ANZ and Suncorp declined.
Company and Sector Highlights
Company news was mixed. Westpac dipped after its New Zealand arm was fined for breaching lender-responsibility rules, while Qube fell after Morningstar noted that Macquarie’s proposed acquisition underscored the shrinking pool of listed infrastructure assets. Monash IVF was unchanged as Victorian regulators imposed new operating conditions following its earlier embryo mix-up. These developments reflect a broader governance trend highlighted in 2022–2024 regulatory analyses, where compliance and operational scrutiny have become more influential drivers of company-specific performance.
US Market Update
US equities ended November on a firmer tone, with the S&P 500 up 0.1 per cent, the Nasdaq up 0.8 per cent and the Dow up 0.6 per cent in a shortened post-Thanksgiving session. Markets now price an 80 to 85 per cent probability of a near-term Fed rate cut, supporting sentiment even as performance diverged across mega-cap technology names. Microsoft, Amazon, Meta, Broadcom and Tesla advanced, while Nvidia weakened and Alphabet was flat as investors reassessed elevated AI-related valuations. For the month, the S&P 500 was broadly unchanged, the Dow rose 0.3 per cent and the Nasdaq fell 1.6 per cent, ending its seven-month winning streak.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.1 | 2.4 | -4.1 | -3.1 | 5.4 |
| Financials | 1.9 | 0.8 | -7.6 | -6.4 | 4.4 |
| Resources | 0.1 | 3.6 | 2.6 | 9.2 | 23.2 |
| Information Technology | 0.6 | 4.7 | -10.5 | -13.1 | -6.8 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.5 | 1.6 | 0.1 | 4.9 | 13.8 |
| Europe | 0.0 | 1.5 | 0.3 | 3.2 | 25.6 |
| Japan | 0.0 | 0.8 | 0.2 | 4.3 | 21.0 |
| China top 50 | -0.6 | 1.6 | -2.0 | 3.6 | 34.9 |
| India top 50 | 0.4 | -0.7 | 0.9 | 4.0 | 1.1 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.2 | -0.3 | -1.5 | -0.6 | 3.5 |
| Australian Corporate Bond | -0.1 | -0.3 | -1.4 | -0.4 | 4.3 |
| US Treasury | 0.1 | 0.6 | -0.1 | 2.0 | 4.8 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 4.1 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.9 | 0.4 | 6.0 | 21.6 | 55.6 |
| Silver | 3.0 | 7.5 | 15.8 | 36.8 | 72.6 |
| Crude Oil | 0.4 | 1.0 | -2.2 | -7.5 | -1.9 |
| Bitcoin | 1.9 | 9.4 | -19.2 | -18.9 | -7.0 |
