Rise and Shine: Everything you need to know before the ASX opens

Good morning! Here’s everything you need to know before the ASX flings open its doors and begins trading today.

Everything you need to know before the ASX opens. Pic: Getty Images.

Good morning everyone and welcome to Rise and Shine on Wednesday, June 18, 2025. Here’s what you should know before the ASX opens today…

The ASX is set for a soft start on Wednesday, with futures down 0.4% and the air thick with tension.

Wall Street on edge over Trump’s war drums

Over on Wall Street, things took a jittery turn as Trump threw another grenade into the Middle East powder keg, this time demanding Iran’s “unconditional surrender.

The S&P 500 lost 0.84%, Nasdaq dropped 0.91%, and the Dow slipped 0.7%.

STOCK INDICES	Value	Change
ASX 200 (previous day)	8,541	-0.08%
S&P 500	5,983	-0.84%
Dow Jones	42,216	-0.70%
Nasdaq Comp	19,521	-0.91%
Euro Stoxx 50	5,289	-0.95%
UK FTSE	8,834	-0.46%
German DAX	23,435	-1.12%
French CAC	7,684	-0.76%

Oil spiked, bonds rallied, and the whole session had the feel of investors checking the exits.

Weak US retail sales and sputtering factory output didn’t help, nor did homebuilder confidence, which just clocked its worst reading since late 2022.

Meanwhile, fund managers are already eyeing the lifeboats.

A new BofA survey shows most believe global stocks will outperform the US over the next five years, a big shift after more than a decade of Wall Street dominance.

If the “Sell America” trade catches on, that could signal a regime change in global markets.

Trump turns up the heat, oil catches fire

Just when markets thought the temperature might drop, Trump hit the big red button.

In a flurry of posts, Trump said Iran’s Supreme Leader was “an easy target,” before demanding “UNCONDITIONAL SURRENDER” in all caps.

His deputy JD Vance hinted the US might ditch diplomacy altogether if Iran doesn’t abandon its nuclear program.

That kind of talk doesn’t go unnoticed in oil markets.

West Texas crude jumped by as much as 5% to over US$75 a gallon, Brent pushed past US$76, and volatility surged to three-year highs.

Traders also had to deal with an immediate chaos - two oil tankers collided and caught fire near the Strait of Hormuz, the world’s busiest oil artery, though no major damage was reported.

Bitcoin stays chill, for now

BTC dipped about 3% last night, but has pretty much held its ground so far as missiles flew between Israel and Iran.

History says crypto usually gets twitchy during Mid East conflicts – early panic, followed by a slow rebound if inflation fears creep in. And this time might be no different.

“Bitcoin doesn’t seem too concerned about the Israel-Iran conflict (yet),” said crypto analyst Za.

Michael Saylor’s firm just dropped a casual $1 billion on 10,001 fresh Bitcoins, proving once again that crypto’s true believers don’t blink.

All eyes on the Fed, again

Tonight’s main event: the Fed Reserve.

Chair Jerome Powell is expected to keep rates on hold again, but don’t confuse that with calm.

The Fed’s stuck in a holding pattern at 4.25%–4.5%, trying to juggle stubborn inflation and now a geopolitical situation that could ripple through every corner of the global economy.

Throw in Trump’s “Liberation Day” tariffs and the renewed trade spats, and the picture gets murky fast.

Powell’s press conference tonight will be picked apart for clues on when, or if, cuts are coming.

Commodity/forex/crypto market prices

Price (US)	Move
Gold:	$3,388.03	0.11%
Silver:	$37.12	2.21%
Iron ore:	$94.86	-0.39%
Nickel:	$14,935.00	-0.86%
Copper:	$9,566.60	-0.26%
Zinc:	$2,639.25	-0.83%
Lithium carbonate 99.5% Min China Spot:	$8,396.00	0.08%
Oil (WTI):	$75.49	5.18%
Oil (Brent):	$76.89	5.00%
AUD/USD:	$0.6480	-0.76%
Bitcoin:	$104,400	-3.80%

What got you talking

Also in the news…

IPO Watch: The first bauxite stock to list since 2024's boom could undercut Africa's high grade producers with a similar product made right here in WA.

Santos’ $30bn Abu Dhabi takeover could put Queensland gas juniors in the fast lane.

Wound management company Teratherix has reduced its upcoming IPO from $35m to $25m, citing the need to eliminate 'hot money' on the registry.

TRADING HALTS

Codeifai (ASX:CDE) – potential acquisition
EV Resources (ASX:EVR) – cap raise & board changes
Meeka Metals (ASX:MEK) – cap raise
New World Resources (ASX:NWC) – cap raise
Peak Minerals (ASX:PUA) – awaiting exploration results
Singular Health Group (ASX:SHG) – cap raise & material contract
South Harz Potash (ASX:SHP) – cap raise
Staude Capital Global Value Fund (ASX:GVF) – cap raise

At Stockhead, we tell it like it is. While Zenith Minerals is a Stockhead advertiser, it did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Rise and Shine: Everything you need to know before the ASX opens