Daily Market Update: 11 November 2025

ASX strengthens on shutdown optimism and sector gains
The Australian sharemarket rallied at the start of the week, buoyed by optimism that the US government shutdown may soon conclude. The S&P/ASX 200 Index (ASX: XJO) surged 66.2 points to close at 8835.90, marking its strongest daily performance in four weeks. Investor sentiment improved amid a broader global risk-on mood as the US Senate advanced a funding bill. Nine of the eleven ASX sectors ended higher, led by technology. Life360 Inc. (ASX: 360) rose 3.6 per cent to $48.32, WiseTech Global Limited (ASX: WTC) jumped 6.2 per cent to $70.25, and Codan Limited (ASX: CDA) added 1.4 per cent. Meanwhile, rising oil prices pushed Woodside Energy Group Ltd (ASX: WDS) up 1.2 per cent to $26.14.

Gold and mining stocks benefit from Fed speculation
Gold miners also gained ground as gold prices advanced on expectations of a possible interest rate cut from the US Federal Reserve. Evolution Mining Limited (ASX: EVN) and Perseus Mining Limited (ASX: PRU) both climbed 3.9 per cent, while Northern Star Resources Limited (ASX: NST) rose 3.5 per cent. In financials, Australia and New Zealand Banking Group Limited (ASX: ANZ) rallied 3.2 per cent to a record $37.98 despite posting weaker cash profits, while Westpac Banking Corporation (ASX: WBC) added 1.4 per cent. However, Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Limited (ASX: NAB) ended in negative territory. Among notable movers, Downer EDI Limited (ASX: DOW) hit a five-year high following a $750 million contract with Chevron Australia, while Monadelphous Group Limited (ASX: MND) soared 11 per cent on a strong trading update.

Global equities rally as US shutdown relief lifts sentiment
Global markets began the week positively, led by Wall Street gains after the US Senate advanced a funding measure to potentially end the 40-day government shutdown. The S&P 500 Index (NYSEARCA: SPY) rose 1.6 per cent, the Nasdaq Composite Index (NASDAQ: IXIC) gained 2.4 per cent, and the Dow Jones Industrial Average (INDEXDJX: DJI) added 415 points. AI-related technology stocks led the rally, with NVIDIA Corporation (NASDAQ: NVDA) up 5.8 per cent, Palantir Technologies Inc. (NYSE: PLTR) up 8.8 per cent, Advanced Micro Devices Inc. (NASDAQ: AMD) up 4.5 per cent, and Micron Technology Inc. (NASDAQ: MU) up 6.5 per cent. Commentary from Federal Reserve Governor Stephen Miran supporting a potential 50 basis point rate cut in December helped boost risk assets. However, the shutdown still poses a risk, as delayed economic data and pending House approval could impact market stability.