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

Good morning everyone and welcome to Rise and Shine on Monday, October 6, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST Monday, ASX futures were 0.3% higher, pointing to a modestly good start to the week.

Here’s what went down on Wall Street last Friday…

AI fever, and a Dow that won’t quit

The Dow Jones smashed through 47,000 before settling up 0.51% at yet another all-time high

The S&P 500 barely scraped past the flatline but still notched a fresh record. The Nasdaq sagged 0.28%.

The US government shutdown has blocked the release of Friday’s all-important non-farm payrolls report. With the Bureau of Labor Statistics literally locked out, the Fed Reserve is now officially ‘flying blind.’

Markets didn’t care. Rate cut hopes still loom large, and traders are pretending private surveys good enough.

Meanwhile, AI mania remains the oxygen, with OpenAI now the most valuable startup in the world at US$500 billion.

Even the usually dull corners of the market – utilities and industrials – hit record highs.

The US pharma sector, for its part, has also chalked up its best week in more than a decade.

Amazon, meanwhile, had Jeff Bezos at Italian Tech Week playing both hype-man and undertaker.

“The AI bubble is real, but so is the technology,” he said, basically telling investors they’re drunk but at least the booze exists.

Netflix was down 5% for the week, not because of earnings, but because Elon Musk told his 190 million followers to cancel their subs.

Musk called for the boycott because he reckons the streaming giant is pushing “woke” content.

Is Bitcoin the new safe haven?

Bitcoin climbed above US$123,000, before settling just below that mark. Ether also climbed over US$4,500 at one point.

A government shutdown, a missing jobs report, and suddenly the orange coin looks like a safe haven.

There’s no irony lost here: Wall Street claims to be flying blind, yet the blind are piling into an asset with no balance sheet.

Still, momentum is momentum…

The week ahead

Australia kicks things off with Westpac consumer confidence Tuesday and NAB business confidence Wednesday.

The RBNZ rates decision also lands mid-week, which will keep Kiwi bond desks wide awake.

China’s trade numbers drop Monday, and then on Thursday night Fed chair Powell has to get up and talk policy without the benefit of a jobs report.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

ASX September Winners: ASX breaks five-month winning streak but small caps hold ground.

High Voltage: Aussie critical minerals reserve could be for sale to strategic allies.

ASX Tech September Winners: Sector underwater but iSynergy soars as it chases Web3.

Development progress proves key to unlocking value for mineral sands companies.

Trading halts

Falcon Metals (ASX:FAL) – exploration results at Blue Moon
Koba Resources (ASX:KOB) – asset acquisition and cap raise
St Barbara (ASX:SBM) – cap raise
Stakk (ASX:SKK) – cap raise
Western Gold Resources (ASX:WGR) – cap raise

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.