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

Good morning everyone and welcome to Rise and Shine on Thursday, July 10, 2025. Here’s what you should know before the ASX opens today…

ASX futures were pointing up by 0.5% at 7am AEST Thursday. The local market looks to be pacing for a strong open. And that’s because…

… Walls Street stirs, rallying hard; Nvidia breaks record

Aussie traders have woken up to the news that our American counterparts have given themselves a half-time pep talk to surge back into the lead. Maybe they’re “doing it for the Munster”.

Another day on, and the TTT (Trump Tariffs Turmoil) seems to be all put pushed aside like a tired Blues tackle.

The S&P surged by 0.61% and the Dow Jones rose 0.49%… but the tech-heavy Nasdaq Composite rallied hardest with a 0.94% gain.

And that’s with plenty of thanks to AI-chip giant Nvidia, which stormed back to become the first ever company to hit the US$4 TRILLION market cap mark.

The tech behemoth finished up 1.8 per cent to $US162.88, closing the day’s trading with a market value of $US3.97 trillion. It, however peaked at $US164.42 during the session to rise above the magic four-trill milestone.

Tech stocks in general led the pack across the US stock indices.

The US rally shakes off, for now, concerns over the White House’s aggressive global trade stance, signalling traders are pinning hopes on trade-war-averting negotiations ahead of Trump’s new August 1 deadline.

Meanwhile, US and global investors will now be turning their attention to US Thursday’s initial jobless claims for the next read on the labour market.

Traders had also been sweating on the latest Federal Reserve minutes, now delivered, for any clues as to what Jerome Powell and mates will pull out of the hat next.

A July rate cut seems to be off the table at this stage, with little support from Fed members for that idea, but the chances of a cut after that, in September, currently sit at about 66%, according to CME Group’s FedWatch tool.

Oh, and did you catch the Bitcoin score?

While all of the above was playing out, the resilient orange one (no, not Trump) – the OG digital asset and bullgoose cryptocurrency Bitcoin (BTC) hit an all-time high, breaching US$112k for the first time.

This broke the previous mark of US11,891 set back in May.

BTC has since retreated a tad, pulling back to just over US$111k, but fresh optimism abounds, sweeping the cryptoverse and beyond. Expect ridonculous price predictions any minute… and stay tuned for Stockhead’s monthly Mooners and Shakers crypto wrap later this week for all the latest.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: Donald Trump again has threatened a tariff on drugs imported into the US, but the drug makers have been given a year or so “to get their act together”.

Several ASX-listed biotechs are advancing cell therapies to capture a share of a global market projected to reach US$48 billion by 2034.

Biocurious: Nerve repair device house Orthocell is taking a cautious approach to entering the US market, with a staged approach to building distributor networks.

Trading Halts

• Mithril Silver and Gold (ASX:MTH) – cap raise
• BMG Resources (ASX:BMG) – pending release of assays
• Falcon Metals (ASX:FAL) – pending exploration results
• Chariot Corporation (ASX:CC9) – continuation of suspension
• Almonty Industries (ASX:AII) – pending resource estimate

At Stockhead, we tell it like it is. While Orthocell and DY6 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.