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, May 14, 2025. Here's what you should know before the ASX opens today…

Wall Street overnight

The ASX is set to extend yesterday’s gains, with futures pointing higher by 0.2% at 7AM AEST.

Last night, Wall Street has just wiped away its 2025 losses, thanks to cooling US-China tensions and soft inflation print.

The S&P 500 closed higher by 0.72%, while the tech-heavy Nasdaq surged by 1.6%.

Leading the charge were the chipmakers, with Nvidia and AMD ripping higher after locking in a juicy deal to supply semiconductors to a Saudi data centre project.

Trump didn’t miss his moment, calling the rally a sign of America’s coming “explosion of investment and jobs”, and touting a Saudi commitment to invest $1 trillion in the US.

Whether or not that cheque’s in the mail, optimism is back on the menu, at least until the next twist.

US Inflation and the Fed

The April inflation print came in softer than expected. Core CPI rose just 0.2%, keeping a lid on fears that tariffs were fuelling a price surge.

Trump used the data to bash the Fed again:

“THE FED must lower the RATE!, like Europe and China have done,” he wrote, keyboard volume fully maxed.

But behind the tweets, traders are dialling down bets on multiple rate cuts.

A few big options trades betting on four cuts this year were quietly binned. For now, the Fed looks more likely to pause than pounce.

Oil

Oil is riding the coattails of optimism, with Brent and WTI both up over 2.5%.

The US-China trade truce plus tame inflation equals demand up, recession fears down.

A softer inflation read is giving energy traders more reasons to go long.

Watch for oil-related stocks on the ASX today.

And finally...

To economics, eyes will be on the Aussie Wage Price Index today.

Economists are tipping a 0.8% lift for the March quarter. Not a bonanza, but enough to get the RBA’s attention as it weighs up rate cuts of its own on May 20.

A stronger-than-expected number could nudge the central bank toward patience.

A weak one might reopen the door to cuts.

COMMODITY/FOREX/CRYPTO MARKET PRICES

• Gold: US$3249.98/oz (+0.4%)
• Silver: US$32.90/oz (+1.03%)
• Iron Ore: US$99.60 (-0.4%)
• Nickel (3mth): US$15,635 (-1.07%)
• Copper (3mth): US$9520.5 (+0.794%)
• Zinc: US$2680 (+0.999%)
• Oil (WTI): US$63.63/b (+2.5%)
• Oil (Brent): US$66.55 (+2.5%)
• AUD/USD: 0.6473 (+1.5%)
• Bitcoin: US$104,421 (+1.9%)

What got you talking

Also in the news...

Short sellers of PolyNovo (ASX:PNV) – the bourse’s eighth most ‘shorted’ stock – are running for the hills today, after a breakthrough in Type 1 diabetes.

Yesterday's Resources Top 5 featured Sierra Nevada Gold (ASX:SNX), Canyon Resources (ASX:CAY) and Codrus Minerals (ASX:CDR), among others. Check out the standout resources stocks here.

A warming in US-China relations have boosted Bitcoin strongly in recent days. Check out our monthly crypto wrap, Mooners and Shakers, to dig into crypto's chances for a new bull run.

Trading Halts

Elixinol Global (ASX:EXL) - cap raise
Lanthanein Resources (ASX:LNR) - drilling results at Lady Grey Project, WA
Marquee Resources (ASX:MQR) - cap raise
RareX (ASX:REE) - cap raise
Sunstone Metals (ASX:STM) - inadvertent non-lodgement of a cleansing notice
Trinex Minerals (ASX:TX3) - cap raise

At Stockhead, we tell it like it is. While Codrus Minerals and Sierra Nevada Gold 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.