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

Good morning everyone and welcome to Rise and Shine on Wednesday, August 13, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST, ASX futures were up 0.2%, pointing to a modestly strong start for Wednesday.

Here’s what went down while you were snuggling…

Wall Street’s record highs

Wall Street had itself a night, with the Dow (+1.1%), S&P 500 (+1.13%) and Nasdaq (+1.39%) all closing at record highs.

The S&P even broke through 6,400 for the first time, not a bad effort for a market everyone said was “too expensive” three months ago.

Tech was still the drum major. Meta (+3%) hit a fresh record high, and is now one good session away from a US$2 trillion badge.

Nvidia, Microsoft, Apple, Amazon, Alphabet, Broadcom, Tesla – all higher. JPMorgan, Netflix, Oracle and Palantir joined in.

Intel spiked more than 5.5% after CEO Lip-Bu Tan had what Trump called a “very interesting” meeting with him. Not bad for a bloke Trump wanted out last week.

Even the small-cap Russell 2000 ripped nearly 3%, its best day since May.

Fed’s September cut almost a lock

The long-anticipated July’s US CPI stayed at 2.7% year-on-year, below the 2.8% markets feared, while core inflation crept up to 3.1% from 2.9%.

Cheaper petrol (down 9.5% on the year) helped offset the tariff bite.

The takeaway is that inflation’s not running away, and the Fed Reserve’s rate-cut door in September is wide open.

Bond yields dipped, the US dollar softened, and traders bumped their rate-cut odds to 94% from 85%.

“I think it cements a September rate cut at this point,” said John Velis of BNY.

For Aussie investors, a US cut is a tailwind – cheaper money, higher risk appetite.

Trump throws more punches

Trump was busy claiming victory on tariffs, with July’s customs duties hitting a record US $27.7 billion, more than triple a year ago.

He called it “incredible for our country” while taking a swing at Goldman Sachs CEO David Solomon for underestimating the policy’s impact.

His advice was that Solomon should “focus on being a DJ” instead of running a bank.

Goldman economists reckon US households are already eating 22% of tariff costs, heading to 67% if history repeats.

For the ASX, tariffs are a two-way mirror : good for some industrials and domestic-focused plays, but a squeeze for companies exporting to the US.

Worth knowing who’s holding the sharp end of that stick.

And finally…

At 11:30am AEST, we get the wage price index.

NAB tips a 0.8% quarterly lift and 3.3% annual growth.

AGL Energy, CBA, Treasury Wine Estates, and Evolution Mining are reporting their results today, so expect a bit of scoreboard watching on the screens.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

ASX-listed Nanosonics (ASX:NAN), Optiscan (ASX:OIL) and Clever Culture Systems (ASX:CC5) are transforming healthcare and pharmaceutical manufacturing efficiency through innovative devices.

The suspension of CATL’s Jianxiawo lepidolite mine could impact global lithium supplies and boost ASX producers and explorers.

Despite its well-publicised problems, the US FDA is a happy place for ASX biotechs seeking drug or device approvals.

Biotechs increasingly are taking out loan advances, backed by their eventual tax refunds under the federal Research & Development Tax Incentive.

Trading halts

Bayan Mining and Minerals (ASX:BMM) – price query
Centaurus Metals (ASX:CTM) – cap raise
G11 Resources (ASX:G11) – new project acquisition
Trigg Minerals (ASX:TMG) – assay results and new mineralisation discovery

At Stockhead, we tell it like it is. While Green Technology Metals, Optiscan and Clever Culture Systems 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.