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 Monday, December 8, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST Monday, ASX futures were down 0.15%, pointing to a modestly lower open.

Here’s what went down on Friday...

Wall Street tiptoes higher

The Dow added 0.22%, the S&P 500 crept up 0.19%, and the Nasdaq managed a 0.31% gain - enough to notch a fourth straight day of green and a second week of wins.

STOCK INDICES	Value	Change
ASX 200	8,635	0.19%
S&P 500	6,870	0.19%
Dow Jones	47,955	0.22%
Nasdaq Comp	23,578	0.31%
Russell 2000	2,521	-0.38%
Euro Stoxx 50	5,724	0.10%
UK FTSE	9,667	-0.45%
German DAX	24,028	0.61%
French CAC	8,115	-0.09%

The S&P is now so close to a record high you can practically see the champagne chilling in the break room.

Markets spent Friday high-fiving over a delayed PCE report (more on that below) and a surprise lift in US consumer confidence - the first improvement in five months.

Apparently Americans are feeling better because they think prices might rise a little less violently than last month.

In stock news, Nvidia eased 0.5% as US lawmakers unveiled the SAFE Act - fresh legislation aimed at blocking Nvidia and peers from exporting advanced AI chips to China for at least 30 months.

Meanwhile, Chinese GPU rival Moore Threads surged on debut in Shanghai, sending a reminder that China is rapidly building its own silicon army.

Tesla slipped as European sales continue to deflate - down almost 30% year-to-date with market share sinking from 2.4% to 1.6%. BYD and SAIC are sprinting the other direction with triple-digit gains.

Apple also remained under pressure amid a stunning C-suite churn. Four senior execs have exited last week, including the heads of AI and interface design, while chip boss Johny Srouji is reportedly contemplating the door as well.

And Bitcoin slipped below US$90k again, falling more than 4% over 24 hours on the weekend.

It has officially decoupled from stocks for the first time since 2014. Which sounds great until you realise everything else is rallying.

PCE and rate cut forecast

The Fed Reserve’s preferred inflation measure - Core PCE - cooled to 2.8% YoY.

Not the postcard from paradise number Jerome Powell wants, but good enough that traders bumped rate-cut odds to 87%.

A month ago that number was 62%. That’s what they call ‘market conviction’.

The December FOMC meeting will be held starting on December 9th, with rates decision due on December 10th or Thursday morning AEDT.

Bullish predictions for gold

Gold prices are hovering around US$4,200/oz.

The World Gold Council has issued this prediction:

“Our analysis shows that, in this environment, gold could rise 5%–15% in 2026 from current levels,” Given current pricing, that’s as high as US$4,830/oz.

Goldman Sachs also reiterated a “structurally bullish outlook for gold,” with a US$4,900 price target.

The week ahead

Australia gets NAB business confidence and the big RBA rates decision on Tuesday.

No cut expected, but Governor Bullock has the podium and that alone could move markets.

China delivers inflation data midweek.

And then the main event: The Fed delivers its rate cut decision Thursday (AEDT), followed by PPI and US labour data to keep the adrenaline pumping.

Commodity/forex/crypto market prices

Price (US)	Move
Gold / ounce	$4,198.86	-0.22%
Silver / ounce	$58.28	2.07%
Iron ore / tonne	$107.24	-0.59%
Nickel / tonne	$14,970	0.57%
Copper / pound	$10,750	1.96%
Zinc / tonne	$3,097	0.24%
Lithium carbonate 99.5% Min China Spot / tonne	$13,155	-0.80%
Oil (WTI) / barrel	$60.08	0.69%
Oil (Brent) / barrel	$63.75	0.77%
AUD/USD	$0.6640	0.30%
Bitcoin	$89,369	-0.03%

What got you talking

Also in the news…

Monsters of Rock: Harder, better, faster, stronger – mining giants put copper front and centre.

Gold, copper, uranium, critical minerals – resources guru Stephen Gorenstein’s picks to play the new mining boom.

Japan’s quiet policy shift may have loud consequences for global markets.

When Donald Trump talks, Chris Judd listens, and it’s helping the fundie pick small cap gems.

High Voltage: Gina Rinehart’s Vulcan Energy Resources (ASX:VUL) scores $3.9bn funding package to build EU’s first lithium project.

November Health Winners: Healthcare takes lead on ASX as good news revives sector.

Trading halts

Conico Ltd (ASX:CNJ) – cap raise
Spenda Limited (ASX:SPA) – cap raise
Volt Resources (ASX:VRC) – cap raise

Antares Metals (ASX:AM5) – acquisition and cap raise

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