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 Tuesday, December 9, 2025. Here’s what you should know before the ASX opens today…
At 7am AEST Tuesday, ASX futures were down 0.1%, pointing to a modestly lower open.
Here’s what went down overnight…
Wall Street waits for Powell to press the button
Wall Street churned through a jittery Monday, and the major indexes all finished a little bruised: the Dow Jones down by 0.56%, S&P 500 by 0.5%, and the Nasdaq by 0.39%.
| STOCK INDICES | Value | Change |
| ASX 200 | 8,624 | -0.12% |
| S&P 500 | 6,836 | -0.50% |
| Dow Jones | 47,689 | -0.56% |
| Nasdaq Comp | 23,487 | -0.39% |
| Russell 2000 | 2,526 | 0.19% |
| Euro Stoxx 50 | 5,726 | 0.03% |
| UK FTSE | 9,645 | -0.23% |
| German DAX | 24,046 | 0.07% |
| French CAC | 8,108 | -0.08% |
Blame it on a Fed meeting that’s now basically a rate cut countdown, and the fact that Treasury yields hit multi-month highs (bond prices lower).
Investors are staring down a 90% chance of a quarter-point cut this week, but this market has trust issues.
The story isn’t Wednesday’s cut, it’s what Powell will say about 2026.
Elsewhere, Nvidia popped 2% after reports the US will loosen restrictions and let China buy the H200 chip again - Washington’s version of “we’re still enemies, but business is business.”
Warner Bros Discovery jumped 7% after Paramount lobbed a US$108.4 billion hostile bid to crash a party Netflix thought it had already locked in.
Netflix had literally emailed subscribers last week promising they’d soon be streaming Warner Bros icons like Bugs Bunny and HBO shows, only to now discover Paramount is trying to snatch the studio from its grasps.
Tesla slipped almost 4% after Morgan Stanley’s new analyst, Andrew Percoco, resumed coverage with a downgrade to Equal-weight from Overweight - even as he raised the price target to US$425 from US$410.
His reasoning is that expectations around Tesla’s AI and autonomy ambitions have already given the stock a premium valuation that’s now “fairly priced.”
And finally, little known Structure Therapeutics rocketed 72% after unveiling mid-stage trial data for its oral GLP-1 obesity pill, aleniglipron.
The drug delivered 11.3% weight loss over 36 weeks with no plateau, a huge deal in a pharma world chasing alternatives to injectable blockbusters like Wegovy and Mounjaro.
The Fed Reserve and RBA
Today at 2.30pm AEDT, the RBA is widely expected to hold rates again, but Governor Michele Bullock’s tone will be the main event.
The bond market now thinks Australia will hike in 2026.
Over in the States, the Federal Reserve is almost guaranteed to cut. But here’s the catch, analysts warn it could be a “hawkish cut”.
In other words, the Fed will give markets the sugar hit they want, while lecturing everyone that dessert is cancelled for 2026.
Could 2026 be AI’s best year?
Former Cisco boss John Chambers wants the market to stop whining about bubbles and enjoy the ride:
“I think 2026 will be a great year for AI… Productivity will grow faster than almost anybody realises. I think the market is underestimating that on earnings.”
Chambers could be right.
Every CEO on Earth is now promising AI will make margins go up and headcount go down, which is basically the ultimate dream for corporates.
And finally...
The RBA decision drops at 2:30pm AEDT, followed by a mic-check from Governor Michele Bullock, where every adjective is a market-moving grenade.
Any hint from Bullock that the economy isn’t following the script, and Santa could be bringing volatility instead of gifts.
Elsewhere, the NAB business survey hits at 11:30am.
And later tonight, US JOLTS job openings will test how “fine” the labour market really is.
Commodity/forex/crypto market prices
| Price (US) | Move | |
| Gold / ounce | $4,185.95 | -0.31% |
| Silver / ounce | $57.96 | -0.55% |
| Iron ore / tonne | $106.42 | -0.76% |
| Nickel / tonne | $14,900 | -0.47% |
| Copper / pound | $10,713 | -0.34% |
| Zinc / tonne | $3,120 | 0.75% |
| Lithium carbonate 99.5% Min China Spot / tonne | $13,091 | -0.54% |
| Oil (WTI) / barrel | $58.79 | -2.14% |
| Oil (Brent) / barrel | $62.37 | -2.17% |
| AUD/USD | $0.6624 | 0.16% |
| Bitcoin | $90,156 | -0.27% |
What got you talking
Also in the news…
Health Check: It’s thumbs up from the FDA for two ASX Car-T cancer drug developers.
Ten Bagger: Gold is running hot, but John Forwood says it may be time to hedge with oil juniors.
Kristie Batten: Revamped Minerals Exploration (ASX:MEX) ready to ramp up NZ gold hunt.
Guy on Rocks: Boab Metals and Sorby Hills a silver-lead operation to watch.
Barry FitzGerald: Investors have missed this key de-risking event, but Garimpeiro thinks Wildcat is purring.
Criterion: Consumers will shop ‘til they drop this Christmas – but only if they get a bargain.
Stock Tips: Analysts pivot to energy and logistics this week.
Trading halts
Alchemy Resources (ASX:ALY) – Valley Bore assay resultsAnagenics (ASX:AN1) – cap raiseAstral Resources (ASX:AAR) – cap raiseAustin Metals (ASX:AYT) – cap raiseAustralian Oil Company (ASX:AOK) – acquisition agreement & settlement deedBayan Mining and Minerals (ASX:BMM) – proposed acquisitionFrontier Energy (ASX:FHE) – cap raiseSomerset Minerals (ASX:SMM) – cap raiseSun Silver (ASX:SS1) – Mineral Resource upgradeTalga Group (ASX:TLG) – cap raiseTorque Metals (ASX:TOR) – bought deal funding arrangement
Findi (ASX:FND) – extension of suspension pending strategic investment
At Stockhead, we tell it like it is. While Belararox and Minerals Exploration are Stockhead advertisers, they did not sponsor this article.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
