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

Good morning everyone and welcome to Rise and Shine on Friday, October 17, 2025. Here’s what you should know before the ASX opens today…

At 7 am AEST Thursday, ASX futures were down 0.34%, pointing to a weak start to the trading day for the local bourse.

Here’s what went on overnight…

Wall Street slides as banking jitters return

The Dow dumped 0.65% gain, the S&P 500 dropped 0.63%, and the Nasdaq missed by 0.47% rally.

It doesn’t appear to have been too much fun on Wall Street overnight, and it looks like financials are carrying the can for this one, with renewed worries over mid-tier lenders hitting sentiment.

Zions Bancorp plunged after flagging a $50m loan charge-off tied to borrower “irregularities”, while Western Alliance also tumbled on news it had sued a client for alleged fraud. The KBW Bank Index sank 3.1%.

TSMC briefly lifted markets after posting stronger-than-expected profits and upbeat AI demand guidance, but optimism faded. Hewlett Packard Enterprise fell nearly 10% on weak long-term targets, while J.B. Hunt surged 21% after a profit beat.

Meanwhile oil retreated, with WTI down 1.4% to US$57.46, as Trump agreed to meet Putin in Hungary to discuss the Ukraine war.

What else? The 10-year Treasury yield slipped below 4% …but hey, at least Asian markets were mostly higher overnight.

Oh, and gold keeps smashing it amid the turmoil – to absolutely no one’s surprise at this point.

What might’ve surprised at least some, though, was Bitcoin and the crypto market taking another biggish hit.

According to Coindesk, Bitcoin faces heavy selling pressure despite seasonal bullish expectations.
“Long-term holders and whales continue to offload BTC as profit-taking intensifies and the four-year cycle narrative shows signs of weakening,” wrote the crypto media outlet.

Commodity/forex/crypto market prices

What got you talking

Also in the news…

Health Check: Less pain at Mayne Pharma (ASX:MYX) after knock-out court win.

Silver has surged to a record, but could it go berserk?

Explorers Podcast: Astron Limited (ASX:ATR) ascends on Donald rare earths development.

Trading halts

• BMG Resources (ASX:BMG) – pending response to ASX price query
• European Lithium (ASX:EUR) – major divestment of shares in CRML
• Jindalee Lithium (ASX:JLL) – cap raise
• Hawk Resources (ASX:HWK) – acquisition and cap raise
• Magmatic Resources (ASX:MAG) – cap raise
• De.Mem (ASX:DEM) – acquisition and cap raise
• Asian Battery Metals (ASX:AZ9) – drilling results and cap raise
• Southern Palladium (ASX:SPD) – cap raise
• Burgundy Diamond Mines (ASX:BDM) – extension to complete funding package negotiations

At Stockhead, we tell it like it is. While Everest Metals and Astron 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.