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

Good morning everyone and welcome to Rise and Shine on Friday, August 8, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST Friday, ASX futures were down by 0.3%, pointing to a downbeat end to the week.

Here’s what went down while you were sleeping….

Nasdaq hits a high

It was a tale of two cities on Wall Street overnight.

The Dow slipped 0.51%, the S&P barely twitched, but the Nasdaq crept 0.35% higher to a new record.

Apple is now up over 8% in two sessions, surging again after Trump revealed a $100 billion domestic investment pledge from the tech giant.

The iPhone cover glass is now being made in Kentucky, apparently.

Intel didn’t fare so well. Shares dropped 3% after Trump jumped on Truth Social demanding its CEO resign over “conflicts of interest” with China.

No evidence and no detail as to why.

Nvidia, meanwhile, got a 0.75% bump as traders bet it might dodge the worst of the incoming chip tariffs.

Trump plugs in a new Fed guy

Trump has slid Stephen Miran into the vacant Fed board seat, temporarily.

Miran, who chairs Trump’s Council of Economic Advisers, will warm the seat until January 2026 while the real power play brews behind the scenes.

And that brings us to the real contender, Christopher Waller. Trump’s camp is apparently quietly lining him up to take Powell’s job.

Analysts say Waller’s got the forward-leaning, forecast-based mindset they’re after. Plus, he’s not Powell, and in Trump’s world, that’s a strength.

What does this mean for investors?

Experts say that if Waller does get the top gig as Chair, the Fed could pivot more aggressively if the data turns.

That’s good news for rate-sensitive plays, especially REITs and small caps on the ASX.

Gold shines

Gold popped as high as US$3,450 an ounce before paring gains overnight.

The rally’s being fuelled by central bank buying, retail interest, and the growing chatter of a Fed rate cut in September.

Add to that the uncertainty swirling around Trump’s next move on Russia, on oil, on inflation – and you’ve got a recipe for more upside.

Watch ASX goldies today.

Bitcoin jumps as Trump opens the crypto floodgates

Trump tossed another grenade into the mix last night, an executive order to allow bitcoin in 401(k) retirement plans.

The crypto world’s holy grail – access to America’s US$9 trillion retirement market – is now within reach.

Bitcoin jumped 2% to reclaim the $117,000 mark on the news.

“What we’re seeing is the aperture widening… more avenues bringing people into the tent,” said Galaxy CEO, Mike Novogratz.

In other words, if grandma can buy bitcoin through Fidelity, this thing’s going mainstream.

What’s on deck today?

Back home, earnings season continues with results from Block, Nick Scali, and QBE amongst others.

Block will be the one to watch, especially given the market’s obsession with anything that blurs the line between tech and finance.

No major data prints today, but everyone’s got one eye on next week.

The RBA meets Tuesday, and US CPI drops that night.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

A growing global ageing population and disability inclusion awareness is boosting demand for assistive technologies including from Control Bionics (ASX:CBL).

The next generation of gold doyens emerged at the Diggers and Dealers Mining Conference. Kristie Batten looks at the leading lights.

Lithium, iron ore, rare earths and coal were among the top moving commodities in July, as gold, copper and uranium prices tanked.

Diggers and Dealers: Hannan Street bids farewell and so does Gold Road.

Trading halts

AXP Energy (ASX:AXP) – cap raise
Green360 Technologies (ASX:GT3) – cap raise
Liontown Resources (ASX:LTR) – cap raise
Litchfield Minerals (ASX:LMS) – cap raise
Santana Minerals (ASX:SMI) – cap raise
Wrkr (ASX:WRK) – cap raise

At Stockhead, we tell it like it is. While Uvre Minerals and Control Bionics 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.