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

Good morning everyone and welcome to Rise and Shine on Wednesday, July 9, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST on Wednesday, ASX futures were flat, suggesting we might have a muted start to the day. We’re taking cues from the US here, too.

Wall Street offers a mixed bag

It was choppy seas in US markets, leaving major US stock indexes without firm direction overnight after yesterday’s broad sell-off.

This follows on from  the Trump administration’s decision to impose a new raft of tariffs on more than a dozen countries, now with an extended deadline – set to go into effect next month.

So, while Wall Street didn’t exactly set the place on fire overnight, the Nasdaq at least gave itself a pep talk, logging a 0.03% finish, while the S&P dipped 0.07% and the Dow Jones lagged behind by 0.37%.

The S&P still remains near it’s all-time-high, though, set just last week.

The slightly better, if muted, performance in the US may well be a sign that traders are betting that the US and its trading partners may eventually come to the table for deals that will lower the chance of further Trump tariffs mayhem.

Look, we’ll take it, especially with European stocks ticking up.

EU closes in on trade deal

Per a report in The Australian this morning… Trump has threatened to reimpose tariffs on the European Union, noting he is just days away from sending the 27-nation bloc a letter to outline the tariffs it would have to pay on August 1.

“We are about two days off from sending a letter,” Trump said during a Cabinet meeting on Tuesday (Wednesday AEST). He stressed that he is still talking to negotiators from the bloc, but that he is displeased with European policies toward US tech firms.

According to the report:

Negotiations with the Trump administration are testing European cohesion as the bloc inches toward a potential trade deal with the US.

European Union officials are closing in on the outline of a deal that includes tough concessions for the bloc. Agreement isn’t certain.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: Dental supplier faces the hard tooth that amalgam fillings are on the way out.

As gold prices soar, ASX gold developers have emerged among the next generation of miners to restore and reinvigorate South Africa’s status as one of the world’s top gold jurisdictions.

Dr Boreham’s Crucible: ASX newbie Tetratherix (ASX:TTX) plays it slow and steady.

TRADING HALTS

• ARC Funds (ASX:ARC) – cap raise
• Emperor Energy (ASX:EMP) – cap raise
• Aguia Resources (ASX:AGR) – cap raise
• Ausgold (ASX:AUC) – cap raise

At Stockhead, we tell it like it is. While Prospect Resources is a Stockhead advertiser, 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.