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

Good morning everyone and welcome to Rise and Shine on Monday, July 14, 2025. Here’s what you should know before the ASX opens today…

ASX futures were pointing down by 0.15% at 7AM on Monday, setting the tone for what could be a slippery start to the local week.

Wall Street battered

And it’s not just the morning chill. Wall Street clocked out Friday looking a bit bruised, with the Dow dropping 0.63%, the S&P 500 down 0.33%, and the Nasdaq shedding 0.22%.

Donald Trump posted a late-night Truth Social special aimed at Canadian PM Mark Carney, promising a 35% tariff on Canadian imports from August.

He also floated 15–20% blanket tariffs for pretty much everyone else, rattling trade desks from Brussels to Bangalore.

“I think the tariffs have been very well received,” he boasted, brushing off inflation concerns.

But JPMorgan boss Jamie Dimon wasn’t buying the calm. “Unfortunately, I think there is complacency in the markets,” he warned.

Nvidia zooms past $4T

Nvidia, meanwhile, kept things sizzling as it marched past a US$4 trillion valuation.

That makes it the first publicly listed company ever to hit that mark.

It’s now officially worth more than Germany’s entire economy, and nearly twice the size of the entire Russell 2000 small caps index.

To put it another way: you could combine Disney and Netflix into one and it still wouldn’t sniff Nvidia’s boots.

Bitcoin flying high

Bitcoin is hovering near its all-time high, trading above US$118,000.

The real test will be “Crypto Week” in Washington, kicking off today US time.

Lawmakers will vote on the GENIUS Act, a no-nonsense attempt to finally put stablecoins on solid ground.

After sailing through the Senate last month with a 68–30 vote, the bill is now headed to the House floor.

If it passes, the Act would make sure every stablecoin is backed, dollar for dollar, by real cash or ultra-safe assets.

Every month, issuers would have to open their books for an independent audit, and if you’re a big player, you’ll be dealing with the big dogs in Washington.

Alongside GENIUS, lawmakers will also be debating the Clarity Act, a long-overdue framework to settle the turf war between the SEC and the CFTC over who polices what in the cryptoverse.

Gold glimmers, silver rockets

Gold prices nudged higher on Friday as traders sought shelter from the tariff squall.

But silver futures spiked more than 3%, reaching almost US$39/oz, a level not seen since 2011.

The metal’s momentum is helped by fresh demand, tighter supply, and now, trade jitters giving it an extra kick.

Gold is still the classic safe haven, but silver is fast becoming the cool cousin.

And finally, the week ahead

This week’s agenda packs a punch, both at home and abroad.

In Australia, we’ll get a fresh read on consumer confidence Tuesday, followed by dwelling commencements Wednesday and the all-important jobs data Thursday.

CBA’s tipping 20,000 new jobs for June, with unemployment steady at 4.1%.

Globally, eyes are on the US June CPI print, which drops on Tuesday (US time).

If that lands hot, it could reignite fears the Fed may not be done with rate hikes just yet.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

A multi-billion deal from the US government to back domestic miner and magnet maker MP Materials has the rare earth sector rocking.

Manganese is rarely on the mind of small cap investors, but high grade drill hits from Black Canyon’s (ASX:BCA) Wandanya project has fundies looking.

The big, beautiful, orange one looks to be in solid shape. And no, we don’t mean the blow-hard in the White House. If you hadn’t noticed, Bitcoin has caught alight this week.

Winners and Losers: Nigel Green’s mid-year global market outlook.

Trading Halts

• Pharmx Technologies (ASX:PHX) – pending announcement
• Chariot Corporation (ASX:CC9) – cap raising
• Macro Metals (ASX:M4M) – failure to lodge cleansing notice
• DY6 Metals (ASX:DY6) – cap raising
• X2M Connect (ASX:X2M) – cap raising
• Lumos Diagnostics Holdings (ASX:LDX) – pending announcement

At Stockhead, we tell it like it is. While Alice Queen is a Stockhead advertiser, it did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.