Steve and Laura reflect on the final trading session of 2025, which saw the Aussie market push higher to cap off a third consecutive year of gains. While the final week of trade was relatively subdued, a boost from the Technology and Financial sectors helped the benchmark index finish the year up nearly 6%. Reflecting on 2025, it was a massive year for the Materials sector, which surged 28% behind record-breaking runs in gold and silver, contrasting with a difficult period for Healthcare. Individual standouts included DroneShield, which finished as the year’s top performer, while HMC Capital and Bapcor were among those facing significant headwinds. Looking ahead, quarterly inflation data, central bank pivots from the RBA and the Fed, and the February reporting season all shape the outlook for the start of 2026.

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US stocks climbed while Treasury yields eased after inflation came in lower than expected. Micron surged on an upbeat outlook as the AI boom fuels demand for memory chips, while activist investor Elliott is reportedly building a $1 billion stake in Lululemon. In central bank news, the Bank of England cut interest rates following a tight vote. In the commodities market, gold hovered near record highs. Back home, Aussie shares are expected to cap off the final full trading week of 2025 on a strong note.

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A subdued and underwhelming session for the Aussie market, with stocks hovering around flat levels late in the day as energy names did most of the damage. Steve and Laura unpack weakness in Woodside after CEO Meg O’Neill announced her departure to take the top job at BP, mixed moves across the banks with CBA providing some support, and sharp falls among uranium stocks following a shock update from Boss Energy. There were brighter spots, including Bapcor jumping on a CEO change and Austal lifting after securing a $1 billion defence contract. Looking ahead, key US inflation data and several major central bank decisions are due in the next 24 hours.

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Wall Street fell as technology stocks retreated, with the Oracle–Blue Owl decoupling unsettling markets ahead of a looming wave of debt issuance. US Treasuries also slipped after dovish remarks from Fed Governor Christopher Waller. In commodities, silver surged to a record high above US$66 an ounce, while lithium prices jumped in China on plans to revoke mining licences. Back home, Aussie shares are expected to fall for a fourth straight session amid renewed rate-hike concerns.

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The ASX200 slipped about 0.2% for a third straight session, leaving the week down roughly 1.3%. Materials led gains, up 1.6% driven by Liontown (+12%) and IGO, while gold rose 4% on strong prices. Energy fell 1.4% as oil hit a five‑year low. US job growth slowed and unemployment hit 4.6%, trimming market expectations for an early Fed rate cut. Upcoming data includes US crude inventories, US jobs and retail figures, plus Australian population and national‑account releases, and AGMs for ANZ and Elders.

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US share markets slipped on Tuesday, with the S&P 500 weighed down by healthcare stocks as investors digested distorted economic data. The US dollar fell after delayed data pointed to softer jobs growth, while energy stocks sank as oil slipped below $60 a barrel amid Russia–Ukraine talks. European equities also retreated, led by sharp declines in defence stocks. Back home, Aussie shares are expected to fall for a third straight session ahead of the mid-year economic update.

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The ASX200 closed down 0.4% for a second straight session, led by energy off 2.3% and tech off 2.5% for a seventh day. DroneShield surged 22% after winning a €50 million European contract, while Orica rose 2.5% on strong explosives demand. Investors look ahead to US retail, jobs, manufacturing and inflation data, plus upcoming dividend payouts.

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Wall Street was subdued as investors brace for a busy week of jobs data, with US stocks edging lower while Treasuries firmed as the Fed rate debate continued. In company news, Tesla shares pushed toward a record high for the first time this year, while ServiceNow fell as analysts weighed the merits of its Armis acquisition. In commodities, oil prices slipped as the broader supply outlook offset disruptions to Venezuelan flows, copper rose on a weaker US dollar, and gold climbed to a seven-week high. Back home, Aussie shares are expected to fall ahead of consumer confidence data.

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The ASX200 fell 62 points, about 0.7%, its worst day in three weeks. The materials sector led losses, down 2.2% on dropping copper and iron ore prices and weaker Chinese data, with BHP and Rio pulling the market down. DroneShield bucked the trend, up roughly 10.5%. Investors now focus on US manufacturing, jobs and inflation releases, upcoming Fed speeches and the RBA’s Brad Jones address later today.

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US stocks fell as concerns over AI exuberance resurfaced, with Broadcom sliding amid margin worries, while Lululemon rallied after raising its annual profit outlook. Meanwhile, US government bond yields rose after Fed officials warned of lingering inflation pressures. Elsewhere, European shares also retreated as a risk-off mood spilled into commodities. Back home, Aussie shares are expected to open the week lower, snapping their longest winning streak since August.

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The Aussie market posted its best gain in three weeks, making it a third consecutive positive week, as global rate cut expectations and soaring commodity prices drove strong performance. Stevie and Laura review a volatile week that ended on a high note, with the benchmark index up 1.2% for the day. The Materials sector was the clear standout, lifting 2% to hit an all-time high, driven by gold and copper climbing to record prices following the US Federal Reserve's rate cut. The biggest individual gainers included several gold and uranium miners, while losers included Metcash, which traded ex-dividend, and shipbuilder Austal. Looking ahead, the final full week of trade brings important interest rate decisions from the European Central Bank, the Bank of England, and the Bank of Japan, alongside key US jobs and inflation data.

📺 Stay updated with the key factors that could influence the Australian and US share markets in 2026 with our 2026 Market Outlook.

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