Wednesday 26th November 2025
Daily Market Update: 27 November 2025
Rally fades as inflation data dims rate cut hopes
The Australian sharemarket pared stronger early gains after October’s Consumer Price Index came in hotter than expected, casting doubt on the Reserve Bank of Australia’s potential to lower interest rates. The S&P/ASX 200 Index (ASX: XJO) ended the session up 0.8 per cent at 8606.5 points, having risen as much as 1.2 per cent intraday. Similarly, the All Ordinaries Index (ASX: XAO) gained 0.9 per cent. Inflation rose to 3.8 per cent year-on-year, outpacing forecasts of 3.6 per cent and prompting a sharp retreat in bond market expectations for rate cuts, shifting sentiment toward rate hikes or prolonged tightening into mid-2026.
Defensives and miners gain; retailers diverge
Amid policy uncertainty, investors rotated into defensive sectors and commodity stocks. Healthcare names rallied with CSL Limited (ASX: CSL) up 0.4 per cent, ResMed Inc. (ASX: RMD) rising 2.1 per cent, and Ramsay Health Care Limited (ASX: RHC) advancing 3.8 per cent. Fisher & Paykel Healthcare Corporation Limited (ASX: FPH) surged 4.8 per cent after lifting guidance. In resources, BHP Group Limited (ASX: BHP) gained 2 per cent, Rio Tinto Group (ASX: RIO) added 1.4 per cent, and Newmont Corporation (ASX: NEM) rose 1 per cent, supported by higher gold and base metal prices. Lithium names also advanced, with Pilbara Minerals Limited (ASX: PLS) soaring 7.2 per cent and Mineral Resources Limited (ASX: MIN) up 3 per cent. Meanwhile, retailers diverged as Wesfarmers Limited (ASX: WES) and JB Hi-Fi Limited (ASX: JBH) rose, but Harvey Norman Holdings Limited (ASX: HVN) and Temple & Webster Group Ltd (ASX: TPW) declined, the latter plunging 32.3 per cent.
Tech leads Wall Street higher as rate cut bets rise
US markets extended gains into a fourth consecutive session, fuelled by growing confidence in a December rate cut from the Federal Reserve. The S&P 500 Index (NYSEARCA: SPY), Nasdaq Composite Index (NASDAQ: IXIC), and Dow Jones Industrial Average (INDEXDJX: DJI) all rose between 0.8 and 0.9 per cent. Tech stocks led the charge, with Oracle Corporation (NYSE: ORCL) up 4 per cent and Microsoft Corporation (NASDAQ: MSFT) gaining 1.8 per cent, while NVIDIA Corporation (NASDAQ: NVDA) added 1.4 per cent. However, Alphabet Inc. (NASDAQ: GOOGL) slipped 1.1 per cent amid news of Meta Platforms Inc. (NASDAQ: META) considering Google’s AI chips, potentially threatening Nvidia’s dominance. Broader optimism also followed reports of pro‑rate‑cut Fed chair contenders, while Deere & Company (NYSE: DE) fell 5.7 per cent after a downbeat outlook.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.8 | 1.9 | -4.2 | -2.6 | 5.7 |
| Financials | 0.6 | 0.8 | -6.2 | -5.2 | 4.4 |
| Resources | 2.1 | -0.2 | -0.8 | 8.0 | 22.2 |
| Information Technology | -0.3 | 4.0 | -12.9 | -17.3 | -7.7 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.8 | 2.2 | 0.5 | 5.7 | 14.8 |
| Europe | 1.2 | 1.6 | -0.8 | 2.5 | 26.3 |
| Japan | 1.6 | 1.7 | -0.8 | 3.3 | 22.6 |
| China top 50 | -0.2 | 0.8 | -1.6 | 1.9 | 34.8 |
| India top 50 | 0.0 | -1.1 | 0.0 | 2.8 | 0.6 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.5 | -0.6 | -1.8 | -0.5 | 3.8 |
| Australian Corporate Bond | -0.3 | -0.6 | -1.7 | -0.4 | 4.6 |
| US Treasury | 0.3 | 0.8 | 0.2 | 2.6 | 5.1 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 4.1 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -0.4 | 0.3 | 1.3 | 23.3 | 56.8 |
| Silver | 0.1 | -1.6 | 7.5 | 34.1 | 68.3 |
| Crude Oil | -0.8 | -2.2 | -5.5 | -6.6 | -4.1 |
| Bitcoin | -1.9 | -3.9 | -21.3 | -21.5 | -9.8 |
