Tuesday 26th August 2025
Daily Market Update: 26 August 2025
ASX slips from record high amid earnings and bank losses
The S&P/ASX 200 Index ended virtually flat on Monday, gaining just five points to 8972.40, after touching a record intraday high of 9054.50. Optimism from anticipated US interest rate cuts initially drove gains, but local sentiment soured due to underwhelming corporate earnings and weakness in the banking sector. Shares of Australia’s four largest banks, National Australia Bank Limited (ASX: NAB), Westpac Banking Corporation (ASX: WBC), Commonwealth Bank of Australia (ASX: CBA), and Australia and New Zealand Banking Group Limited (ASX: ANZ), all fell between 1.4 and 1.8 per cent.
Miners and energy support market amid corporate disappointments
The materials and energy sectors cushioned broader market losses, driven by rising commodity prices amid US dollar weakness. Major miners benefited from higher iron ore futures, with BHP Group Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) all gaining over 2 per cent. Santos Limited (ASX: STO) advanced 0.6 per cent following takeover updates and solid earnings. However, investor sentiment took a hit with Reece Limited (ASX: REH) tumbling 16.4 per cent on disappointing full-year profits, and Endeavour Group Limited (ASX: EDV) declining 1.4 per cent after a sharp drop in net profit. Notably, Ansell Limited (ASX: ANN) surged 10.3 per cent and Aussie Broadband Limited (ASX: ABB) jumped 20.2 per cent on strong outlooks, while Southern Cross Media Group Limited (ASX: SXL) soared 26.5 per cent after reporting a strategic turnaround.
Wall Street eases as focus shifts to Nvidia and inflation data
US markets dipped after last week’s rally, with the S&P 500 Index falling 0.3 per cent, the Dow Jones Industrial Average dropping 349 points, and the Nasdaq 100 Index slipping 0.4 per cent. Investors paused ahead of Nvidia Corporation’s (NASDAQ: NVDA) earnings, which is expected to significantly impact markets given its 8 per cent weight in the S&P 500. Meanwhile, Intel Corporation (NASDAQ: INTC) lost 1 per cent after reports of a 10 per cent US government stake. Traders are also closely watching upcoming inflation data, with expectations for a 2.9 per cent core PCE reading, as Federal Reserve rate-cut odds remain high following Jerome Powell’s recent dovish comments.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.1 | 0.4 | 3.8 | 7.8 | 14.7 |
| Financials | -1.3 | 3.5 | 7.0 | 8.8 | 23.6 |
| Resources | 2.3 | -0.2 | 3.5 | 10.4 | 12.3 |
| Information Technology | 0.0 | 0.5 | 2.8 | 11.7 | 27.4 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | -0.3 | 0.2 | 2.4 | 11.4 | 21.6 |
| Europe | 0.3 | 1.7 | 2.9 | 5.6 | 20.9 |
| Japan | 0.0 | -0.4 | 6.8 | 10.0 | 20.1 |
| China top 50 | 1.8 | 0.3 | 1.0 | 7.9 | 55.9 |
| India top 50 | -1.1 | -0.6 | 0.1 | -2.8 | -0.2 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.2 | 0.0 | 0.7 | 1.6 | 2.8 |
| Australian Corporate Bond | 0.2 | 0.0 | 0.7 | 1.8 | 3.7 |
| US Treasury | 0.2 | 0.1 | 0.8 | 2.2 | 0.9 |
| Cash | 0.0 | 0.1 | 0.3 | 1.0 | 4.3 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -0.1 | 0.0 | 0.7 | -0.7 | 38.1 |
| Silver | 1.2 | -0.3 | -0.9 | 14.4 | 34.2 |
| Crude Oil | 0.2 | 1.6 | -0.8 | 9.6 | -5.5 |
| Bitcoin | -2.0 | -3.2 | -1.5 | 1.8 | 83.4 |
