| Price | Change | % Chg | |
|---|---|---|---|
| Dow | 45,271.23 | -24.58 | -0.05% |
| S&P 500 | 6,448.26 | 32.72 | 0.51% |
| Nasdaq | 21,497.73 | 218.1 | 1.02% |
| VIX | 16.35 | -0.82 | -4.78% |
| Gold | 3,605.60 | -29.9 | -0.82% |
| Oil | 63.68 | -0.29 | -0.45% |
OVERVIEW OF THE US MARKET
Wall Street closed mixed on September 3, 2025, with tech and communication stocks leading gains amid reinforced Fed cut bets from weak job data, offsetting energy weakness in a volatile session. The Nasdaq Composite surged 1.02% to 21,497.73, the S&P 500 rose 0.51% to 6,448.26, while the Dow Jones Industrial Average dipped 0.05% to 45,271.23. Eight of eleven S&P 500 sectors advanced, topped by Communication Services (+3.76%) and Information Technology (+0.82%), with Consumer Discretionary up 0.43%, but Energy plunged 2.30% and Materials fell 0.53%.
Actives included Opendoor Technologies (+0.79%) on massive volume, Senmiao Technology (+61.25%), NVIDIA (-0.09%), Alphabet (+9.14%) hitting a record amid AI search tool plans for Siri, and Snap (-1.09%). Tech rallied as Apple climbed to a six-month high on AI developments.
Job openings hit a 10-month low, solidifying September Fed cut pricing at nearly 100% and two in 2025, lifting equities and snapping a two-day S&P skid ahead of Friday’s payrolls (75k expected, unemployment 4.3%).
For August, the S&P 500 gained 2.1%—its best month since May—fueled by AI optimism and earnings resilience, though long-bond yield spikes and tariff fears capped broader advances; Nasdaq rose 1.8%, Dow up 2.4%.
Investors eye escalating US policy risks: Trump’s Fed pressure (Cook ouster legal battles), tariff legality doubts, and National Guard deployments eroding trust, spurring gold to new highs amid Ukraine tensions.
Fed Governor Waller signaled September cuts, debating pace, as eToro’s Kenwell notes labor weakness tips the scale but warns against cheering slowdowns.
Asian futures rose on Fed bets, with Japan and Australia up 0.4%.
Strategists from HSBC, Morgan Stanley, and UBS sustain long-term optimism, citing earnings, tariff clarity, and AI to propel 2026 highs despite valuations.
Goldman Sachs cautions tariffs could dent equities despite deals, urging diversification as growth ebbs without collapse.
OVERVIEW OF THE AUSTRALIAN MARKET
The Australian share market tumbled on September 3, 2025, amid a global risk-off wave triggered by US policy uncertainties, rising long-term bond yields, and escalating geopolitical tensions, exacerbating a dismal start to historically weak September. The S&P/ASX 200 plunged 1.82% to 8,738.8, 1.85% from its high and 0.09% from the low, while the broader All Ordinaries fell 1.72% to 9,010.1. Small-caps fared better with the Small Ords down 1.15%, but breadth was abysmal as advancers lagged decliners 40 to 236 in the ASX 300.
All sectors declined, with Consumer Discretionary the least bad at -0.37%, Health Care -0.95%, Industrials -1.05%, Materials -1.11%, Energy -1.18%, Consumer Staples -1.24%, Communication Services -1.47%, Utilities -2.30%, Real Estate -2.41%, Financials -2.76%, and Information Technology hardest hit at -3.85% as rising US yields hammered long-duration tech—Xero (-6.2%), Wisetech Global (-4.6%). Bond proxies suffered amid yield spikes: CBA (-3.5%) in Financials. Materials saw miners like Fortescue (-4.0%), BHP (-1.1%), Rio Tinto (-1.3%) drag, but gold’s rally to $US3,578 all-time high cushioned the Gold subsector (-0.2%), with Perseus Mining (+2.2%), Resolute Mining (+3.6%), Ramelius Resources (+2.7%).
Standout movers included 4DMedical (+50.0%) on CMS reimbursement, Brazilian Rare Earths (+16.3%) after permit, 29Metals (+16.2%), Gateway Mining (+14.3%), Meeka Metals (+11.8%), Asara Resources (+11.3%), Electro Optic Systems (+9.2%), Artrya (+7.2%), Aeris Resources (+6.0%), Broken Hill Mines (+5.9%), Lion Rock Minerals (+5.4%), Tasmea (+5.1%), Energy One (+5.0%), Antipa Minerals (+4.7%). Laggards featured Falcon Metals (-10.3%), Dateline Resources (-9.6%), Nanoveu (-9.1%), Invictus Energy (-9.1%), LTR Pharma (-8.5%).
The AUD/USD dipped 0.11% to 0.6513. Q2 GDP grew 0.6% QQ (above 0.5% poll), 1.8% YY (above 1.6%), signaling resilience but raising RBA cut doubts. US ISM at 48.7 (below 49) fueled Fed easing bets.
For August, the ASX 200 advanced 2.6%—its strongest month since May—bolstered by earnings beats and sector rebounds despite volatility, though September’s seasonal weakness and US risks loom.
Investors grapple with Trump’s Fed meddling—legal battles over Cook’s firing—and tariff legality doubts, plus National Guard deployments eroding trust, spurring safe-haven gold amid Ukraine escalation.
Strategists from HSBC, Morgan Stanley, and UBS uphold bullish stances, eyeing earnings, tariff resolutions, and AI to drive 2026 gains despite valuations.
Goldman Sachs cautions tariffs could erode equities despite deals, recommending diversification as recession odds wane but systemic risks mount.
