Markets Today (20 November 2025) at Open: Key Trends from Wall Street to ASX

1. ASX Outlook-

The ASX 200 (XJO) is trading at 8,519, up +71 points (+0.85%), with the market currently open and trending positively. This strong start is largely influenced by Nvidia’s earnings beat, which boosted global sentiment—more on that shortly.

2. Overnight US Markets:

Global markets were mixed but generally positive:

1. S&P 500: +0.38%
2. Dow Jones: +0.10%
3. NASDAQ: +0.59% (strongest performer)
4. Russell 2000: +0.19%

The NASDAQ’s rise is a key reason why the ASX is firm today.

3. US Sector Performance:

Winners:

Information Technology: +0.93%, Communication Services: +0.72%, Materials: +0.46%, Financials: +0.42%

Losers:

Energy: -1.30%, Utilities: -0.81%, Real Estate: -0.79%

Tech strength in the US may support Australian tech names today. Falling energy prices could put pressure on ASX energy stocks

4. Commodities: A major driver for the ASX

• Gold: +0.09% ($4071) → steady
• Copper: +1.06% ($5.00) → this is positive for ASX miners
• WTI Oil: -2.06% ($59.55) → negative for ASX energy names like Woodside or Santos

5. What to Watch Today (ASX Focus)

Nvidia’s results just dropped, and they beat expectations:

• EPS: $1.30 vs $1.25 expected
• Revenue: $57.01B vs $54.92B expected
• Next quarter guidance: ~$65B expected revenue
• Pre-market share price: up ~4%

Why this matters for Australia:
Nvidia is a major player in the global AI and semiconductor boom. When Nvidia performs well:

• US tech rallies
• Market sentiment improves
• ASX tech generally benefits (e.g. WiseTech, Xero, Appen might see positive flow)

In simple terms:
The tech boom still has legs, and that’s helping lift markets globally.

6. Broker Move:

Nufarm (NUF) received multiple upgrades:

Jefferies: Upgraded to Hold from Underperform, price target raised to $2.22

Morgans: Upgraded to Buy from Hold, price target lifted to $3.20

This may provide upward momentum for Nufarm today.

7. Stocks Trading Ex-Dividend:

• N1 Holdings (N1H): $0.003
• Orica (ORA): $0.32

8. Earnings Today-

• Turners (TRA)
• AFT Pharmaceuticals (AFT)

Keep an eye on these names for volatility.

Our take at Kapitales Research:

• ASX up strongly at +0.85%.
• US markets were generally positive, especially tech.
• Nvidia beat earnings → lifted global sentiment → boosting ASX tech.
• Copper up, oil down → mixed impacts for miners vs energy stocks.
• Nufarm got major broker upgrades.
• A few ASX stocks go ex-dividend tomorrow.
• Earnings from Turners and AFT Pharmaceuticals.

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