**Good Morning! Here’s What You Need to Know Before the ASX Opens – Tuesday, September 23, 2025**

It’s Tuesday morning, and ASX futures are looking slightly positive. As of 7am AEST, futures were up 0.2%, suggesting a mild lift when the market opens today.

**Wall Street Hits New Highs – Big Tech Powers Ahead**

Overnight, Wall Street had another strong session. The S&P 500 hit a new record, moving closer to the 6700-point mark. The Nasdaq also rose, coming close to 22,800 before ending the day higher.

Big tech led the charge again. Nvidia jumped 4% after announcing plans to invest up to US$100 billion into OpenAI. But this isn’t a cash deal — it’s all about building data centers, GPUs, and infrastructure to support AI growth.

Apple also had a great night, climbing over 4%. Its market cap is nearing an incredible US$4 trillion. With this move, Apple becomes the last of the “Magnificent Seven” tech stocks to recover all its 2025 losses — a big win for bullish investors.

Tesla gained 2%, hitting its highest price in 2025. This came after Elon Musk and Donald Trump made a surprise joint appearance at a memorial service. Their brief handshake made headlines — and gave Tesla stock a boost.

Meanwhile, semiconductor giant ASML got a rating upgrade from Morgan Stanley. The company reminded investors that its EUV machines are essential for building advanced AI systems.

**Gold and Silver Shine Bright**

Gold prices shot up, breaking through US$3,700 an ounce. Gold ETFs saw their largest inflows in three years, signaling strong investor interest. Silver also climbed, reaching levels not seen in 14 years.

The surge in precious metals is likely due to falling interest rates and growing expectations of more rate cuts. This boosts gold’s appeal since lower real yields make non-yielding assets like gold more attractive.

“Technicals are strong and more rate cuts are expected,” said ANZ’s Soni Kumari.

**Crypto Takes a Hit**

While gold soared, crypto stumbled. Bitcoin dropped sharply to around US$112,000 as over US$1.5 billion in leveraged long positions were wiped out.

Ethereum and Solana also fell hard. Some investors call this a “nervous consolidation,” while others think the crypto rally may be running out of steam.

Analyst Rachael Lucas summed it up: “The early-year fireworks are gone. Right now, it’s more about cautious optimism than fear.”

**What’s Coming Up Today**

Today’s calendar is packed with key economic data. PMI readings are due across Europe, the UK, and the US — giving insight into how businesses are performing globally.

Investors will also be watching the PCE inflation data — a favorite indicator for the Federal Reserve. If inflation comes in soft, markets may start pricing in another interest rate cut for October.

Federal Reserve Chair Jerome Powell is also scheduled to speak today. Expect careful wording — rates may stay low longer, but don’t expect him to signal a full policy shift just yet.

**Other Market Highlights**

– **Gold M&A Buzz:** TG Metals raised $4 million as interest grows in the Forrestania gold belt.
– **Pharma Deal:** Starpharma surged on news of a potential Big Pharma partnership worth up to $855 million.
– **PGE Exploration:** Major players are backing promising ASX-listed platinum group element explorers.
– **Silver Projects:** Strong silver prices could finally unlock new project development opportunities.

**Trading Halts on ASX**

Several companies have paused trading due to capital raises or announcements:

– Altamin (AZI) – capital raise
– Gateway Mining (GML) – capital raise
– Green Critical Minerals (GCM) – options underwriting
– Indiana Resources (IDA) – exploration results & ASX query
– Kula Gold (KGD) – divestment & capital raise
– Metal Bank (MBK) – capital raise
– RareX (REE) – funding update
– RooLife Group (RLG) – response to ASX queries
– Swift Networks (SW1) – capital raise
– Trigg Minerals (TMG) – acquisition & placement

Stay tuned for updates throughout the day as markets react to economic data and company news.