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

Good morning everyone and welcome to Rise and Shine on Tuesday, August 19, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST, ASX futures were down 0.25%, pointing to a soft start to Tuesday.

This is what went down while we were tucked in …

Wall Street yawns

The US market traded flattish, with investors waiting on Jerome Powell’s big speech at Jackson Hole later this week.

The Dow slipped 0.08%, the S&P 500 barely moved with a 0.01% dip, and the Nasdaq managed a tiny 0.03% gain.

The Fed chair is set to give what may be his final word at the annual central banker jamboree, and everyone’s guessing whether he’ll whisper sweet nothings about rate cuts, or double down on caution.

Intel was the drama stock last night, slipping 4% after reports that the Trump administration might flip some of its Chips Act grants into an equity stake.

On paper, that sounds like a patriotic win: Uncle Sam throwing on the cape to back America’s most beleaguered chipmaker.

But investors hate uncertainty more than a bad flat white.

No one knows if this plan means free money, diluted shares, government meddling, or all of the above.

The Magnificent Seven still ride, but saddles slipping

For nearly a decade, the Magnificent 7 have been carrying the index on their backs, outperforming by more than 70% since 2015.

But Bank of America says the tide could finally be turning.

With rate cuts back on the horizon and the market mood shifting into recovery mode, value stocks are starting to edge back into the spotlight.

The mega-caps aren’t going away, but the days of them hogging the mic may be numbered, the bank said.

Trump makes calls, oil takes the hint

Geopolitics also kept traders on edge.

Trump met with Zelenskiy in Washington and is already lining up a call with Putin, signalling he wants to broker a long-term peace.

Oil, naturally, didn’t miss the cue. WTI lifted just over 1%, while Brent pushed above US$66.

Traders know that any hint of a ceasefire could flood supply back into the market, but for now crude is edging higher on the uncertainty.

And finally…

This week is loaded with market-moving stuff.

Powell’s speech at Jackson Hole on Friday is the headline act, with Fed minutes on Wednesday as the warm-up band.

Back home, earnings season hits full swing with CSL, BHP, HMC Capital, Woodside and Centuria stepping into the spotlight today.

Consumer confidence data will drop this morning too, with NAB tipping a bounce on the back of the RBA’s rate cut and stronger spending in July.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: Flurry in the farmyard as last-standing ASX ‘vet’ play fields takeover offer.

Precision Points: When it comes to biotechs’ messaging, a lingering KISS goes a long way.

Argonaut Algorithm: David Franklyn’s pick to play bullish bauxite demand drivers.

Trading halts

Arafura Rare Earths (ASX:ARU) – cap raise
European Metals (ASX:EMH) – cap raise
Felix Group Holdings (ASX:FLX) – strategic acquisition and cap raise
Frontier Digital Ventures (ASX:FDV) – investigating misappropriation of funds
Lindian Resources (ASX:LIN) – cap raise
Magnetic Resources (ASX:MAU) – cap raise
Marquee Resources (ASX:MQR) – cap raise
Rokeby Resources (ASX:RKB) – cap raise
Unico Silver (ASX:USL) – cap raise
West Cobar Metals (ASX:WC1) – cap raise
WIA Gold (ASX:WIA) – cap raise

At Stockhead, we tell it like it is. While Victory Metals 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.