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

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

At 7am AEST, ASX futures were humming along nicely, up 0.45% and hinting at a sprightly start for Thursday.

Here’s what happened while we were all tucked in….

Wall Street hits the high notes

The Dow muscled up 1.04% to flirt with its December peak, while the S&P 500 and Nasdaq notched back-to-back record closes at +0.32% and +0.14% respectively.

The main driver was rate cut fever.

Traders have gone from “maybe a trim” to pricing in a full quarter-point Fed cut in September, with a cheeky 6% even betting on a jumbo 50-point slash.

Treasury Secretary Scott Bessent is egging them on, talking about 150–175bps worth of cuts.

Meanwhile, corporate standouts were everywhere overnight.

Paramount Skydance rocketed 37% after nailing a US$7.7b UFC rights deal that makes ESPN’s old contract look like pocket change.

Apple found its AI mojo again, with Bloomberg reporting about household robots, a lifelike Siri, and a smart speaker with a face. Shares were up 1.6%.

For the ASX, this is a cocktail of bullish cues.

Trump’s to-do list

President Donald Trump’s week is starting to look like a geopolitical variety show.

First, the Fed chair sweepstakes is widening – up to 11 candidates are now in the running to replace Jerome Powell when his term expires in May.

Treasury Secretary Bessent is leading the casting call, promising the President has “a very open mind”.

Then there’s Putin.

Trump warned of “very severe consequences” if the Russian leader doesn’t agree to a ceasefire later this week after their meeting in Alaska.

For markets, it’s a reminder that Trump’s foreign policy can swing sentiment fast, especially in energy and defence stocks.

Ethereum eyes the crown

Crypto’s runner-up is making a run for the throne.

Ethereum jumped as much as 6% last night to hover above US$4,680, just shy of its 2021 record.

Fundstrat’s Tom Lee is calling it “the biggest macro trade over the next 10–15 years”. Bold.

Meanwhile, crypto exchange Bullish priced its IPO at $37 a share, valuing it north of $5b.

That’s a decent comeback story after its failed SPAC attempt in 2021, and it’s also a small litmus test for whether crypto-adjacent equities can thrive in a still-cautious IPO market.

Bitcoin was also up over 2%, by the way.

Oil’s slippery slide

Crude prices sagged with WTI and Brent dipping by 0.7%.

The culprit is rising US stockpiles, up to their highest in two months, and an IEA forecast that global supply could outstrip demand by a record 2.96 million barrels per day in 2026.

That’s even fatter than the COVID glut of 2020.

Lower crude prices can weigh on sector earnings, but cheaper fuel is a tailwind for transport, airlines, and even some industrials.

It’s one of those things where the “oil down” headline means two very different things depending on your portfolio.

And finally…

Locally, profit season rolls on with results due from Telstra, Origin, ASX, Suncorp, Temple & Webster, and Pro Medicus.

The local July jobs report also lands at 11:30am AEST.

Another soft print could have markets betting on back-to-back RBA cuts.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Mooners and Shakers: Ethereum finds its mojo… (checks watch) looks like ‘ETH season’ is here.

Uranium mining has always been a touchy topic in Australia, but this Queensland explorer thinks a major find will change hearts and minds.

Ten Bagger: Tin is one of the least understood resources sectors on the ASX, but John Forwood thinks there are opportunities to play the space.

Health Check: Burns repair house Avita Medical has shored up its balance sheet with a $23 million placement, prompting a 13% share surge.

Trading halts

Adelong Gold (ASX:ADG) – Challenger Gold Mine JV dispute
Bayan Mining and Minerals – price query
EPX Limited (ASX:EPX) – cap raise
Falcon Metals (ASX:FAL) – cap raise
Siren Gold (ASX:SNG) – cap raise
Somerset Minerals (ASX:SMM) – cap raise

At Stockhead, we tell it like it is. While Singular Health 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.