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

Good morning everyone and welcome to Rise and Shine on Tuesday, October 7, 2025. Here’s what you should know before the ASX opens today…

At 7am AEST Tuesday, ASX futures were up 0.1%, hinting at a modest start to the day.

Here’s what happened last night…

AMD lights up Wall Street

Overnight, the Dow slipped 0.14%, the S&P 500 rose 0.37%, and the Nasdaq jumped 0.79%.

 
The headline of the night was chipmaker AMD, which unleashed a mega-deal with OpenAI that had investors frothing.

The agreement covers a ridiculous 6 gigawatts of GPUs, and even throws OpenAI a warrant for up to 10% of AMD’s stock if milestones are hit.

AMD shares rocketed by 40% before easing, tacking on more than US$100 billion in market cap.

Nvidia, the current king of the AI silicon jungle, was down 1% and losing a little shine as investors imagined a new sheriff in town.

But in truth, it’s more like Nvidia finally getting some company at the top of the mountain.

Tesla popped 5% higher because Elon Musk posted two short teaser videos on X ahead of the company’s upcoming Investor Day on November 6.

It’s proof the stock remains more sensitive to showmanship than guidance.

Stockmarket predictions

Wall Street is split between believers and worriers.

Morningstar’s Dave Sekera sits with the worriers, warning the rally’s getting “very concentrated” and “it’s all about AI.”

He says markets are “walking this tightrope” between AI hype and the Fed easing rates.

Blilionaire Paul Tudor Jones is in the other camp.

“My guess is that I think all the ingredients are in place for some kind of a blow off.

“History rhymes a lot, so I would think some version of it is going to happen again. If anything, now is so much more potentially explosive than 1999.”

“You have to get on and off the train pretty quick… if you don’t play it, you’re missing out on the juice…”

Gold and Bitcoin

While the Street’s busy chasing AI euphoria, the “hedge against insanity” trade is getting traction too.

Gold, silver, and Bitcoin all hit record highs overnight – which is like watching both the life raft and the yacht hit full throttle.

Gold nearly touched US$4,000 an ounce, silver hit US$48.63, and Bitcoin blasted past US$125,000, with options traders now targeting US$140,000 by year-end.

Open interest on crypto futures is at an all-time high.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: Neurizon free to advance motor neurone disease trial after FDA lifts ‘clinical hold’.

Investors brush off US government shutdown and weak hiring.

Kristie Batten: Terrain gets the Lightning jolt it’s been chasing.

Up, Up, Down, Down: Gold’s bull run got even more spectacular in September.

Jurisdiction spotlight: Kalahari Copper Belt offers decades of untapped potential for ASX explorers.

Stock Tips: You might not want to sleep on this week’s picks.

Trading halts

Echo IQ (ASX:EIQ) – pending US medical tech approval
Elixir Energy (ASX:EXR) – Diona-1 well results
Globe Metals & Mining (ASX:GBE) – cap raise
Global Uranium and Enrichment (ASX:GUE) – potential acquisition
Kalina Power (ASX:KPO) – 180MW project transfer
Kuniko (ASX:KNI) – cap raise
Maronan Metals (ASX:MMA) – cap raise
OpenLearning (ASX:OLL) – cap raise
Ovanti (ASX:OVT) – cap raise for US BNPL unit
Power Minerals (ASX:PNN) – material acquisition and cap raise
Red Mountain Mining (ASX:RMX) – addition to US critical minerals portfolio
Xstate Resources (ASX:XST) – Diona-1 drill results

At Stockhead, we tell it like it is. While Neurizon, Terrain Minerals and Trigg Minerals 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.