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

Good morning everyone and welcome to Rise and Shine on Friday, September 12, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST Friday, ASX futures were up 0.5%, pointing to a firmer open for the local market.

Here’s what went down overnight…

Wall St cracks records again

The Dow pushed through 46,000 for the first time, the S&P and Nasdaq also broke records, and traders acted like sticky inflation and job losses were just background noise.

Oracle’s Larry Ellison has pocketed a casual US$101 billion in paper wealth after the stock’s 40% rally yesterday, briefly leapfrogging Musk as the world’s richest man.

Warner Bros rocketed 29% on rumours of a takeover from Paramount Skydance, yes, another Ellison family production.

Meanwhile, Alibaba popped 9% after selling a $3.2b convertible bond to bulk up its cloud business.

Tesla rose 6% after unveiling its “MegaBlock” energy storage unit. Analysts called it a “gamechanger.”

And over in Frankfurt, the ECB left rates unchanged.

ECB president Christine Lagarde waved off weaker inflation forecasts as “minimal deviation.”

Translation: “We’re not lifting a finger.”

CPI, jobs and Fed scissors at the ready

Meanwhile, US inflation in August rose 0.4%, with annual CPI at 2.9%. Core was a steady 0.3%.

Jobless claims spiked to 263,000, the highest since 2021.

The Fed now looks nailed-on to cut next week, with markets pricing three chops by Christmas.

Ed Yardeni even slapped a 25% chance of an S&P500 “melt-up” to 7000 this year.

Gold: the ghost of 1980 is finally buried

Gold surged to as high as US$3,674 an ounce last night, smashing through its inflation-adjusted 1980 peak.

That’s more than 30 records this year, up nearly 40% YTD, and officially deep into “uncharted territory” land.

“Gold is a very unique asset in its historical ability over hundreds  – if not thousands – of years to play that role,” said Robert Mullin of Marathon Resource Advisors.

Oil drowns in its own barrel

Oil dropped 2% as the IEA slapped the table with bearish headlines: oversupply is back.

OPEC+ plans to ramp production from October, Saudi’s shipping more to China, and suddenly war headlines can’t even prop crude up.

“Oil prices are falling today in response to bearish IEA headlines, which suggest massive oversupply on the oil market next year,” said Commerzbank’s Carsten Fritsch.

And finally…

Locally, RBA assistant governor Brad Jones speaks in Sydney at 1.40pm.

Across the ditch, NZ drops its PMI at 8.30am.

Then the University of Michigan serves up consumer sentiment at midnight , just in time for Wall Street to decide whether the party rolls on or hits a wall.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: Truscreen Group’s (ASX:TRU) diagnosis is for revenue growth and cash flow break even.

Key report shows uranium supply will struggle to keep up with demand.

Mooners and Shakers: Help us, JPow… you’re our only hope (for the bull run).

The $85bn Anglo Teck copper deal shows majors believe in a long copper bull run.

Trading halts

Belararox (ASX:BRX) – cap raise
Critical Resources (ASX:CRR) – cap raise
Intelicare Holdings (ASX:ICR) – cap raise
Spacetalk (ASX:SPA) – cap raise
TMK Energy (ASX:TMK) – cap raise
West Wits Mining (ASX:WWI) – cap raise
Yari Minerals (ASX:YAR) – cap raise

At Stockhead, we tell it like it is. While Star Minerals 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.