| Name | Price | Change | % Chg |
|---|---|---|---|
| Dow | 46,270.46 | 202.88 | 0.44% |
| S&P 500 | 6,644.31 | -10.41 | -0.16% |
| Nasdaq | 22,521.70 | -172.91 | -0.76% |
| VIX | 20.81 | 1.78 | 9.35% |
| Gold | 4,176.40 | 13 | 0.31% |
| Oil | 58.71 | 0.01 | 0.02% |
OVERVIEW OF THE US MARKET
Wall Street pulled back on October 14, 2025, as renewed US-China trade tensions overshadowed solid bank earnings and Federal Reserve signals of potential rate relief. The S&P 500 edged down 0.2% to 6644.31, while the Nasdaq Composite shed 0.8% amid a 1.6% drop in information technology, with Nvidia falling 4.4% on profit-taking after its recent surge. The Dow Jones Industrial Average bucked the trend, rising 0.4% as financials climbed 1.1% on strong results from JPMorgan and Goldman Sachs, which posted record revenue in investment banking.
President Trump’s threat to halt cooking oil trade with China as retaliation for soybean snubs reignited fears of escalation, erasing early gains and dragging the benchmark negative despite Trade Representative Jamieson’s note on ongoing talks. Crop traders like Bunge and Archer-Daniels-Midland rose over 1% on the news, while the “TACO” trade—betting on Trump’s tariff backpedals—saw traders buy dips anticipating a rebound, per Barclays strategists. Consumer staples gained 1.7%, led by Walmart’s AI partnership with OpenAI, but energy slipped 0.1% as oil tumbled 1.7% to $58.47 a barrel.
Fed Chair Jerome Powell’s comments bolstered rate-cut bets, noting a possible end to balance sheet shrinkage soon and worsening labor prospects, with two-year yields dipping to 3.48% near 2022 lows. Swap contracts now price in 1.25 points of easing by end-2026, supporting October and December cuts to a 3% terminal rate, according to TD Securities. A Bank of America survey showed 54% of fund managers viewing AI stocks as bubbly, up from last month, though eToro’s Bret Kenwell sees earnings beats reassuring on consumer health and AI spending.
OVERVIEW OF THE AUSTRALIAN MARKET
Australian shares eked out gains on October 14, 2025, buoyed by a mining rally that offset bank weakness and lingering US-China trade ripples. The S&P/ASX 200 rose 0.19% to 8899.4, with the All Ordinaries up 0.27%, as materials surged 2.3% on iron ore strength and gold’s record $4179 an ounce. Energy climbed 1.4%, with uranium plays like Paladin up 9.6%, while financials dipped 0.5% as Westpac and NAB fell over 1%.
BHP, Fortescue, and Rio Tinto each gained 1.8% or more on Rio’s highest Q3 shipments since 2019, and rare earths like Lynas rose 5% amid unresolved curbs. Gold and silver records drew safe-haven flows, lifting Northern Star and Evolution, though consumer discretionary slid 1% on softer confidence to 12-month lows. Droneshield plunged 6.5% in a defense sector pullback after its 600% YTD run, while Cobalt Blue Holdings doubled on a cobalt MoU.
September NAB business confidence hit +7, up from +4, with conditions steady at +8, signaling resilience per NAB’s Sally Auld—bolstering RBA patience amid 1.5% labor cost moderation. CommSec’s Ryan Felsman noted calmer White House rhetoric aiding miners, though the Aussie dollar weakened 0.7% to 0.6468 on tempered November cut hopes from hawkish RBA minutes. AGMs for CBA, Origin, and Lottery loom Wednesday, alongside China’s CPI/PPI deflation data.
