Market update: 8 July 2025
Markets ticked higher this week, with the ASX 200 up 1.0% as eight of the eleven sectors closed in the green. Healthcare and Real Estate led gains, and while trading was relatively steady, attention now shifts to the RBA’s decision later today. With inflation easing and growth moderating, markets are almost fully pricing in a 25bps cut, which would take the cash rate to 3.6%.
In the US, major indices reached fresh record highs, supported by June’s strong job growth and ongoing progress in trade negotiations. The S&P 500 and Nasdaq both extended their winning streaks, buoyed by the passage of a key economic bill and developments with several international trade partners ahead of the July 9 tariff deadline.
European markets were more subdued, with the FTSE up 0.3% but the broader Euro Stoxx indices falling. Inflation edged up to 2.0%, right at the ECB’s target, slightly tempering expectations for further rate cuts. Meanwhile, diplomatic friction with China escalated, casting a shadow over EU-China relations.
In Asia, Chinese stocks were mixed. The Shanghai Composite rose 1.4% to a new YTD high, buoyed by financials and trade developments, while the Hang Seng dropped 1.5% following a tech sector crackdown and caution ahead of the tariff deadline. In Japan, the Nikkei declined 0.8% as stalled trade talks with the US raised the risk of higher tariffs on Japanese imports.
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