Rise and Shine: Everything you need to know before the ASX opens

Good morning everyone and welcome to Rise and Shine on Thursday, June 12, 2025. Here’s what you should know before the ASX opens today…

The ASX is tipped to open a little higher today on Thursday, with futures pointing up by 0.2% at 7am AEST.

Wall Street lost its footing

Overnight in the US, the S&P 500 dipped 0.3%, Nasdaq dropped 0.5%, and the Dow flatlined.

Apple and Amazon slid 2%, and Tesla stayed flattish even after Elon tried patching things up with Trump.

Elon said he went a bit too hard on Trump last week and said he regrets some of his posts. Probably realised now that nuking your own government contracts isn’t the smartest play.

Oracle was one of the few bright spots, jumping 7% post-market after beating earnings expectations.

Meanwhile, bond yields dropped as investors started betting harder on rate cuts coming down the track.

US inflation softens, will Fed blink?

May’s CPI came in cooler than expected, giving markets fresh hope that Jerome Powell and his Fed mates might actually pull the rate-cut trigger, maybe as soon as September.

Trump told the Fed to slash rates by a full point, saying it would save everyone on debt repayments.

Markets now reckon there will be two cuts by the end of the year. The bond market’s already reacting, with yields falling and traders licking their lips.

Oil goes bang on Iran threat

Oil surged more than 4% overnight after reports the US is prepping an embassy evacuation in Iraq.

Iran’s defence chief said if current negotiations on Iran’s nuclear program fails, US bases in the region are fair game.

ASX energy stocks could rip higher today.

And finally…

Closer to home, RBA’s David Jacobs is giving a 5:20pm speech in Tokyo on “Australia’s Bond Market in a Volatile World”, which could be code for “don’t expect much, but listen closely anyway.”

Also dropping is CBA’s household spending insights, a sneak peek into how Aussie wallets are holding up.

Later tonight, US PPI and jobless claims will give more clues about inflation and labour strength.

This is the sort of thing Powell likes to chew over before making his next rate move.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Clever Culture Systems (ASX:CC5) is gaining traction with its AI-enabled tool to ensure that ultra-sterile drug facilities stay that way.

Despite being one of the great mineral provinces in Australia with big endowments of gold and copper, the Paterson Province remains underexplored.

Medicinal cannabis play Little Green Pharma (ASX:LGP) has shrugged off the sector’s malaise by reporting record revenue and a return to profits.

The rebirth of Broken Hill as an ASX asset is getting close, with Broken Hill Mines seeking to relist at what looks an attractive valuation.

TRADING HALTS

Cobre Limited (ASX:CBE) – cap raise
Ioneer Ltd (ASX:INR) – cap raise
Southern Palladium Limited (ASX:SPD) – cap raise
Terra Metals Limited (ASX:TM1) – cap raise
Western Gold Resources Limited (ASX:WGR) – material deal
Zenith Minerals Limited (ASX:ZNC) – cap raise

At Stockhead, we tell it like it is. While Belararox, Clever Culture and Broken Hill Mines 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.