Wednesday 3rd September 2025
Daily Market Update: 4 September 2025
All Ords sinks as GDP beats expectations, technology sold off, gold rallies behind Northern Star
The local market’s difficult start to September continued, tracking US weakness as concerns about global economic disruption grew. The S&P/ASX All Ordinaries Index (ASX: XAO) fell 1.7 per cent on Wednesday, with every sector finishing lower. Technology dropped 3.9 per cent and financials 2.8 per cent, led by Commonwealth Bank of Australia (ASX: CBA) which fell another 3.5 per cent. Gold was the standout once again, with Northern Star Resources Limited (ASX: NST) gaining 0.5 per cent on the back of record-high bullion prices and volatility in bond yields. Rate cut hopes have now faded after GDP showed the Australian economy grew faster than expected at 1.8 per cent, driven by resilient consumer spending. While above forecasts, this remains slow growth by both historic and global standards.
COG Financial Services buys salary packaging group, Woodside shrugs off Russia concerns, Optus sells more towers
Smaller financial services group COG Financial Services Limited (ASX: COG) announced a 40 million dollar acquisition of salary packaging group EasiFleet, aiming to expand scale and efficiency. Meanwhile, Optus sold another 340 telecommunications towers to Waveconn, with lease-back arrangements in place to release capital for growth opportunities and reduce local exposure. Woodside Energy Group Ltd (ASX: WDS) was more resilient than the broader market, after management downplayed concerns around Russia and China’s partnership on the Power of Siberia 2 pipeline. Woodside emphasised its diverse customer base as protection from geopolitical shifts.
US markets recover on tech, job market weakness, Alphabet surges, Salesforce cuts earnings
US markets ended mixed, with the Dow Jones Industrial Average (INDEXDJX: DJI) flat, the NASDAQ Composite Index (NASDAQ: IXIC) up more than 1 per cent, and the S&P 500 Index (NYSE: SPX) higher by 0.5 per cent. Alphabet Inc (NASDAQ: GOOGL) surged 9 per cent after a court ruling confirmed it would not be required to sell its Chrome browser to address competition concerns. Apple Inc (NASDAQ: AAPL) added more than 3 per cent on news it receives up to 20 billion US dollars annually for Google’s search engine exclusivity. Attention is back on the Federal Reserve, as weaker jobs data has boosted rate cut expectations for September. Salesforce Inc (NYSE: CRM) fell in after-market trade on disappointing sales growth guidance, raising concerns about competition from AI-enabled CRM providers. Meanwhile, Macy’s Inc (NYSE: M) jumped more than 20 per cent after reporting its strongest same-store sales growth in three years, highlighting US consumer resilience.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -1.7 | -2.2 | 1.6 | 4.1 | 13.6 |
| Financials | -2.7 | 0.3 | 4.6 | 5.1 | 21.2 |
| Resources | -0.8 | 0.2 | 11.1 | 14.9 | 22.2 |
| Information Technology | -2.1 | -3.4 | -1.6 | 3.1 | 26.2 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.5 | -1.5 | 2.0 | 6.8 | 21.3 |
| Europe | -1.2 | -2.1 | 2.2 | 0.9 | 17.3 |
| Japan | -1.4 | -1.2 | 4.5 | 5.3 | 17.4 |
| China top 50 | 0.0 | 0.8 | 4.5 | 9.5 | 59.7 |
| India top 50 | 0.0 | -1.8 | -1.8 | -3.6 | -3.5 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.2 | -0.4 | -0.1 | 0.1 | 2.6 |
| Australian Corporate Bond | -0.2 | -0.3 | 0.0 | 0.4 | 3.6 |
| US Treasury | -0.2 | -0.2 | 0.9 | 1.8 | 1.2 |
| Cash | 0.0 | 0.1 | 0.3 | 1.0 | 4.3 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 1.5 | 2.8 | 3.3 | 3.7 | 44.3 |
| Silver | 0.1 | 5.4 | 9.9 | 17.2 | 48.3 |
| Crude Oil | 0.5 | 2.3 | -1.1 | 9.6 | 8.9 |
| Bitcoin | 0.8 | -0.5 | -4.1 | 4.0 | 99.8 |
