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

Good morning everyone and welcome to Rise and Shine on Friday, October 3, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST on Friday, ASX futures were up by 0.1%, pointing to a modest start to the day.

Here’s what happened on Wall Street overnight…

Nvidia sets record, Tesla tumbles

The Dow climbed 0.17%, the S&P 500 edged 0.06%, and the Nasdaq added 0.39%, all setting fresh records.

Nvidia reset its peak again, powered by the OpenAI halo effect after the ChatGPT maker’s valuation was marked up to US$500 billion in a secondary sale.

It’s an extraordinary number, overtaking SpaceX as the world’s most valuable private company.

Tesla, on the other hand, showed how little fundamentals matter when the narrative turns.

The company reported record quarterly deliveries of nearly 500,000 vehicles, smashing estimates.

Yet the stock fell more than 5% as investors looked past the beat and priced in life after the federal EV tax credit.

Meanwhile, Washington’s shutdown continued, starving the market of official data.

Friday’s jobs report will be delayed, which means Fed watchers are relying on patchy private surveys.

Those don’t look good: Challenger’s survey put hiring plans at their weakest since 2009.

Bitcoin is a safe haven

Bitcoin smashed through US$120,000, extending its winning streak to six sessions.

The narrative is simple: government dysfunction is bad for trust in fiat, so money rotates into “digital gold.”

ETF flows reinforce it – roughly US$1.5 billion has gone into Bitcoin ETFs this week.

Oil struggles

Oil extended its losing streak, with WTI sliding toward US$60 and Brent just above US$64.

The problem is structural. OPEC+ is opening the taps again, with Saudi Arabia reviving 400,000 barrels a day and discussing an even bigger increase for November.

Saudi’s rationale is market share, but it comes just as demand indicators weaken and inventories build up.

Traders know how this story usually ends. Once the cartel abandons restraint, the downside accelerates.

ASX energy stocks could struggle today.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: It’s payday for two device makers as higher US reimbursement flows.

ASX copper plays cash in as supply fears grow.

Why mill access can turn gold explorers into fast earners.

Trading halts

Adelong Gold (ASX:ADG) – exploration results and ASX query
Carnavale Resources (ASX:CAV) – cap raise
Catalina Resources (ASX:CTN) – exploration results
NexGen Energy (ASX:NXG) – cap raise
3D Energi (ASX:TDO) – cap raise

At Stockhead, we tell it like it is. While Buxton Resources 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.