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 Tuesday, May 20, 2025. Here's what you should know before the ASX opens today…

The ASX looks set to kick off Tuesday on the front foot, with futures up 0.75% at 7AM AEST.

What happened on Wall Street

It was one of those Monday moods on Wall Street, a bit of early panic, followed by dip-buying confidence.

Stocks wobbled after Moody’s yanked the US’s last perfect credit rating, and then went one step further by slashing ratings on big-name lenders like JPMorgan and Bank of America.

But by the close, the S&P 500 had eked out a sixth straight win, up by 0.1%, powered by traders deciding the downgrade was more bark than bite. The tech-heavy Nasdaq also finished flattish.

The Fed said it was in no hurry to lend a hand. Two officials - including the usually level-headed John Williams from the New York Fed - reckon we might not see rate cuts till September, at the earliest.

“Let’s wait and see,” was the vibe.

Meanwhile, JP Morgan's Jamie Dimon warned that inflation and political risk are being grossly underestimated.

“Credit’s a bad risk right now,” he said, basically telling Wall Street to stop acting like it’s invincible.

If things go sideways, he reckons stagflation could be back on the table, not a word anyone likes to hear with their morning coffee.

Commodities

Gold flexed its safe-haven muscles again, bouncing 1% as investors fled from Moody’s drama and soft China data.

It’s already up 23% this year, with JPMorgan now tipping it to hit US$4,000 by early 2026. Not bad for a lump of shiny metal that doesn’t even pay interest.

Aluminium, meanwhile, got smacked overnight.

A flood of inventory hit LME warehouses, especially in Malaysia, with traders choosing to cough up metal rather than cop a loss rolling contracts.

All eyes on the RBA today

Back home, the spotlight will turn to Martin Place at 2:30pm AEST.

The RBA is tipped to cut rates for the second time this year, with most economists expecting a 25bp trim that willl take the cash rate below 4%,  a level we haven’t seen since 2023.

With inflation looking slightly tamer and global jitters swirling, the RBA has room to breathe.

But the decision will be watched like a hawk.

Investors will be hoping this cut, if it lands, gives the ASX a decent tailwind.

COMMODITY/FOREX/CRYPTO MARKET PRICES

(at 7:30AM. AEST):

Price (US)	Move
Gold:	$3,229.67	0.81%
Silver:	$32.35	0.23%
Iron ore:	$100.00	-0.08%
Nickel:	$15,515.00	-0.58%
Copper:	$9,246.60	1.59%
Zinc:	$2,673.95	-0.63%
Lithium carbonate 99.5% Min China Spot:	US$8500/t	-0.58%
Oil (WTI):	$62.69	0.32%
Oil (Brent):	$65.58	0.25%
AUD/USD:	$0.6459	0.84%
Bitcoin:	$105,380.00	1.15%

What got you talking

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With Goldman Sachs predicting gold will continue to rise in 2025, Kristie Batten dives into which ASX gold stocks could be the next big producer of the precious metal.

Trading Halts

Arrow Minerals (ASX:AMD) - media reports in Guinea regarding mineral exploration tenements
EQ Resources (ASX:EQR) - cap raise
Estrella Resources (ASX:ESR) - agreement with mining services firm, PT Raka Energi Mandiri
Iltani Resources (ASX:ILT) - cap raise
Island Pharmaceuticals (ASX:ILA) - cap raise
Kingston Resources (ASX:KSN) - proposed transaction on Misima Gold Project
Koba Resources (ASX:KOB) - cap raise
Mayne Pharma (ASX:MYX) - proposed acquisition by Cosette
Nimy Resources (ASX:NIM) - cap raise
Oceana Lithium (ASX:OCN) - cap raise
OFX Group (ASX:OFX) – ASX query on its full year financial results
Peak Minerals (ASX:PUA) - exploration results from its Minta Rutile Project
Talga Resources (ASX:TLG) - cap raise
Volt Resources (ASX:VRC) - media reports in Guinea regarding mineral exploration tenements

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