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.
Good morning everyone and welcome to Rise and Shine on Wednesday, December 3, 2025. Here’s what you should know before the ASX opens today…
At 7am AEST Wednesday, ASX futures were up just 2 points, pointing to a flattish open.
Here’s what went down overnight…
Wall Street tries a half-bounce
The Dow clocked a 0.46% gain, the S&P crept up 0.32%, and the Nasdaq, carried by its usual cast of tech demi-gods, managed 0.72%.
| STOCK INDICES | Value | Change |
| ASX 200 | 8,580 | 0.17% |
| S&P 500 | 6,834 | 0.32% |
| Dow Jones | 47,506 | 0.46% |
| Nasdaq Comp | 23,443 | 0.72% |
| Russell 2000 | 2,475 | 0.23% |
| Euro Stoxx 50 | 5,686 | 0.33% |
| UK FTSE | 9,702 | -0.01% |
| German DAX | 23,711 | 0.51% |
| French CAC | 8,075 | -0.28% |
And for once, the gains actually had reasons, not just “vibes”.
Nvidia rose 3% after OpenAI declared a “code red” and shifted resources to urgently upgrade ChatGPT, signalling heavier model training and more demand for high-end GPUs.
Every time these giants fight, suppliers like Nvidia and the whole AI plumbing ecosystem win.
Investors know this, which is why sentiment flipped from “AI bubble risk” on Monday to “AI acceleration” on Tuesday.
Dell jumped 5% after it reported stronger demand for AI-ready infrastructure.
Intel ripped 7% to a 52-week high because of rumours Apple might use Team Blue for low-end M chips from 2027.
And, Boeing rallied 9% after its CFO promised positive free cash flow in 2026 and said demand was firm.
Bitcoin’s bounce…
Bitcoin clawed its way back above US$91,000, up by more than 6%.
A solid move, but this bounce comes after a bruising selloff that wiped out nearly US$1 billion in leveraged crypto bets.
Under the hood, the Bitcoin funding rate has turned negative, meaning the smart money still prefers shorting it.
Bank of America is now covering four Bitcoin ETFs and recommending a 1–4% allocation. Very convenient timing, considering the December tax-loss selling window is wide open.
The big danger zone, experts say, is a break below US$81–80k. If that gives way, they’re talking US$70k and even US$60k.
Fed pick becomes the new meme trade
The race to replace Jerome Powell has turned into a financial soap opera, and traders are positioning to profit from it.
Markets are suddenly pricing in more cuts in 2026, thanks to speculation Donald Trump is lining up Kevin Hassett as the next Fed chair.
Trump says he’ll announce the pick “early next year,” but the bond market isn’t waiting.
SOFR futures have lit up like a Christmas tree.
“If Hassett is confirmed, the most likely outcome is bear steepening,” said Brandywine’s Jack McIntyre.
That means long-end yields going up even as short-term rates fall.
And finally...
Locally, all eyes are on Australia’s GDP print at 11:30am AEDT. Bloomberg has pencilled in 0.7% growth (a three-year high).
Elsewhere, WiseTech Global holds its investor day.
And, Eurozone PPI drops tonight at 9pm. It won’t move mountains, but after last week’s European inflation wobble, traders will be watching the read-through
Commodity/forex/crypto market prices
| Price (US) | Move | |
| Gold / ounce | $4,199.70 | -0.75% |
| Silver / ounce | $58.38 | 0.67% |
| Iron ore / tonne | $106.94 | 2.00% |
| Nickel / tonne | $14,765 | -0.74% |
| Copper / pound | $10,332 | -0.14% |
| Zinc / tonne | $3,063 | -1.24% |
| Lithium carbonate 99.5% Min China Spot / tonne | $13,306 | 0.05% |
| Oil (WTI) / barrel | $58.63 | -1.16% |
| Oil (Brent) / barrel | $62.41 | -1.21% |
| AUD/USD | $0.6566 | 0.23% |
| Bitcoin | $91,800 | 6.34% |
What got you talking
Also in the news…
Health Check: We’re doing OK in the USA, says Oneview Healthcare (ASX:ONE).
As AI powers a new boom, Roscoe Widdup says energy investing requires you to leave your politics at the door.
Dr Boreham’s Crucible: How can you mend a broken heart? Imricor Medical Systems (ASX:IMR) is giving it a go.
Cobar’s long mining history is pointing the way forward for new discoveries.
Resources Top 5: Core Energy Minerals (ASX:CR3) nabs Rio Tinto rare earths play in Brazilian hotspot.
Trading halts
Core Energy Minerals (ASX:CFE) – cap raise
FireFly Metals (ASX:FFM) – cap raise
HitIQ (ASX:HIQ) – cap raise
IPB Petroleum (ASX:IPB) – cap raise & acquisition talks
L1 Global Long Short Fund (ASX:PMC) – entitlement offer
Red Mountain Mining (ASX:RMX) – funding initiative
At Stockhead, we tell it like it is. While Core Energy 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
