Sunday 9th November 2025
Daily Market Update: 10 November 2025
Australian market weakens for second week
The S&P/ASX 200 Index (ASX: XJO) declined by 0.7 per cent on Friday to close at 8769.7, notching a second consecutive weekly loss as the market digested the Reserve Bank of Australia’s decision to hold the cash rate steady. Investor expectations for a rate cut this cycle have diminished. Financials dragged the index lower, led by Macquarie Group Limited (ASX: MQG), which dropped 5.7 per cent after its half-year profit missed estimates by over 10 per cent. Commonwealth Bank of Australia (ASX: CBA) also fell 1.5 per cent, though National Australia Bank Limited (ASX: NAB) recovered slightly, rising nearly 1 per cent.
Technology and aviation sectors struggle
Technology stocks mirrored weakness in the Nasdaq, with Iren Limited (ASX: IRE) plunging 12 per cent. Other tech names like WiseTech Global Limited (ASX: WTC), Life360 Inc (ASX: 360), and Xero Limited (ASX: XRO) posted losses. Mixed performances in materials saw Newmont Corporation (ASX: NEM) rise 1.8 per cent as gold neared US$4000 per ounce, while Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) declined alongside falling iron ore prices. Alliance Aviation Services Limited (ASX: AQZ) plummeted 42.7 per cent as trading resumed post-suspension, revealing a weaker outlook and leadership change. Qantas Airways Limited (ASX: QAN) fell 6.6 per cent amid soft corporate travel demand, while Block Inc (ASX: SQ2) dropped 15.8 per cent following disappointing revenue. In contrast, News Corporation (ASX: NWS) rose 3 per cent on stronger-than-expected quarterly revenue.
US consumer sentiment hits near-record low
Globally, sentiment was shaken as the University of Michigan reported a sharp decline in its consumer sentiment index, falling to 50.3 in November, marking the second-lowest reading on record. This deterioration stemmed from growing concerns about a prolonged US government shutdown. The Current Economic Conditions Index dropped to an all-time low of 52.3, with a significant fall in personal financial assessments, while the Consumer Expectations Index dipped to 49.0. Inflation expectations were mixed, with short-term projections slightly rising and long-term expectations easing. Interestingly, confidence rose among households in the top third of stock ownership, buoyed by market performance.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.7 | -1.2 | -2.0 | 0.5 | 9.1 |
| Financials | -1.2 | 1.7 | 1.6 | 5.2 | 16.8 |
| Resources | 0.5 | -1.6 | 0.6 | 13.7 | 15.3 |
| Information Technology | -1.7 | -4.5 | -10.3 | -10.7 | 3.5 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.1 | -0.6 | 2.0 | 6.7 | 15.5 |
| Europe | 0.6 | 0.7 | 4.0 | 25.3 | |
| Japan | -0.3 | 1.0 | 3.9 | 9.6 | 25.4 |
| China top 50 | 0.0 | 3.3 | -0.2 | 7.0 | 31.4 |
| India top 50 | 0.2 | 0.7 | 3.5 | 2.1 | 1.8 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.1 | -0.2 | 0.3 | 0.3 | 5.7 |
| Australian Corporate Bond | 0.1 | -0.2 | 0.3 | 0.4 | 6.4 |
| US Treasury | 0.4 | 0.1 | 0.6 | 1.5 | 4.8 |
| Cash | -0.2 | -0.2 | 0.0 | 0.7 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.8 | 0.5 | 2.0 | 18.2 | 50.5 |
| Silver | 1.1 | 0.6 | 2.3 | 27.2 | 56.6 |
| Crude Oil | 0.2 | -2.5 | -2.9 | -4.0 | -3.8 |
| Bitcoin | -1.4 | -7.5 | -16.5 | -13.2 | 33.6 |
