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

Good morning everyone and welcome to Rise and Shine on Tuesday, September 9, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST Tuesday, ASX futures were down 0.3%, pointing to a soft start to the day.

Here’s what went down overnight….

Wall Street grabs new record

Wall Street ended Monday on another record high again.

Dow was up 0.25%, S&P up 0.21%, Nasdaq up 0.45% – enough to keep the momentum traders grinning.

Tech was once again the sugar rush. Nvidia, Microsoft, Meta, Amazon all up.

Broadcom, somehow still riding its earnings wave, has strung together a 20% gain in just five days.

QuantumScape jumped 21% after demoing its battery tech inside a Ducati.

Then there was Eightco, up a never-heard-of 3,000% on the back of a plan to shovel money into Worldcoin, Sam Altman’s eyeball-scanning crypto token.

A US$4m company suddenly valued at US$137m for pivoting into magic internet money.

Nothing says “end of cycle” quite like microcaps betting the farm on coins that literally ask you to prove you’re human.

“This is just the latest sign of excess risk taking in the market,” Greg Taylor at PenderFund summed it up.

Meanwhile, Trump kept needling the Fed.

He’s openly floating names to replace Powell, while his Treasury Secretary is out there calling the Fed “too late” to act.

To round it off, US workers are starting to sweat.

Confidence in finding a new job hit its lowest since 2013. Only less than half of Americans reckon they’d land another gig.

Bubble or bull run?

The S&P 500 has hit more than 20 record highs this year.

JPMorgan’s desk is warning the Fed’s cut could trigger a “sell the news” reversal.

The bulls don’t care, they’re still buying every dip.

September, historically a graveyard for stocks, is now in play.

Retail traders usually retreat, buybacks slow, and liquidity thins out. Yet the market is grinding sideways to higher, with weak jobs data in the background.

Exhaustion is setting in, but greed hasn’t let go.

Gold smashes another record

Gold surged 1.7% last night to hit US$3,646 an ounce, taking out Friday’s record. This morning, it was trading at US$3,636.

Rate cuts are now priced in at 100% for next week, and gold is front-running the Fed like a seasoned trader.

UBS thinks it’s going to US$3,700.

Swissquote says demand is also juiced by central banks quietly hoarding.

Goldman Sachs went even further, warning gold could push toward US$5,000 if investors start pulling money from Treasuries.

And finally…

Today, Westpac’s consumer confidence drops at 10:30am AEST, NAB’s business survey at 11:30am.

Expect them to confirm what households and corporates already know – things feel shaky, and rate cuts aren’t the instant cure they used to be.

In the US, Tuesday (tonight) brings the jobs benchmark revision, Wednesday the PPI, Thursday the CPI.

The inflation prints will set the tone for next week’s Fed meeting.

Everyone’s betting on cuts from the Fed. The only question is whether it’s 25bps or 50bps.

And keep one eye on the Supreme Court, where Trump’s attempt to boot Fed Governor Lisa Cook could rewrite the script for Fed independence.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Sweden is set to lift its uranium mining ban from January 1, 2026, opening the door and handing a potential windfall to Aussie miners with projects in the country.

Nordic Resources (ASX:NNL) is drawing fresh attention after snapping up three Finnish gold projects, lifting its resource to 1.23Moz AuEq

At just 30, Zara Lim owns multiple properties, has taken an 18-month career break to travel, and says young Aussies like her are ditching the old “work till 65” script for flexible careers, early breaks and living for the now instead of waiting on super.

Trading halts

ABx Group (ASX:ABX) – cap raise
Augustus Minerals (ASX:AUG) – cap raise
Cobram Estate Olives (ASX:CBO) – cap raise
EV Resources (ASX:EVR) – cap raise and acquisition
Great Boulder Resources (ASX:GBR) – visual drilling results
Marmota (ASX:MEU) – assay results
TechGen Metals (ASX:TG1) – top-up placement

At Stockhead, we tell it like it is. While Nordic Resources, Aura Energy and Rhythm Biosciences 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.