8 December 2025 | Weekly Snapshot
Saward Dawson > Wealth Advisory Insights > Weekly Snapshot > 8 December 2025
Did you know?
The Australian government’s influence on domestic GDP has never been higher. This is shown by the below chart, which measures the government’s share of GDP, which set a record high at 29% this year. This reflects an increase in both government spending and government payrolls and with some patience, more taxes.
Market Movements
The Australian market rose 0.6% last week, with the ASX All Ordinaries closing at 8,916. Resources (+2.3%) and Financials (+1.6%) led the market higher. Consumer discretionary stocks were the weakest performers, down 2.3% for the week. Standout performers included BHP Group (+6.3%) and Wisetech (up 4.6%). On the downside, CAR Group fell 4.7%, and Northern Star fell 4.7%.
In the USA, the S&P 500 rose 0.9%, while the tech-heavy NASDAQ gained 1.3%. Info technology stocks were among the strongest performers, up 1.5% along with Industrials (up 2.2%). Defensive sectors were mostly lower including Utilities (down 1.6%) and Consumer Staples (down 1.3%). Salesforce rose 11.9% following strong quarterly results, whilst Meta gained 1.5% after announcing some cost cutting measures across their meta-verse growth aspirations.
Gold continued its impressive run, rising 0.6% to $4,212 per ounce, now up over 60% year-to-date. Copper also showed ongoing strength (up 3.1%). The Australian dollar strengthened 1.3% against the US dollar to 0.68, benefiting from stronger commodity prices, stronger relative interest rates and risk-on sentiment. Against this, the 10-year inflation expectation in Australia fell to 2.14%.
In the United States, CPI data showed inflation holding at 3.0% year-over-year in October, with monthly inflation at 0.2%, both in line with expectations. Retail sales were weaker than expected, falling 0.2% month-over-month in October. Initial jobless claims remained steady at 225,000.
China’s economic data was softer than expected. Retail sales rose just 2.8% year-over-year in October, below the 3.0% forecast, while industrial production grew 5.5%, missing expectations of 6.5%. This continues to highlight challenges in the Chinese economy.
Portfolio Movements
Salesforce beats Q3 estimates – Ups FY guidance
- Leading CRM software provider, Salesforce, reported a solid Q3 with Q3 EPS of $3.25 ex-items ahead of the $2.86 expected. Q3 revenue of $10.26B was largely in line. FY Guidance was also raised to EPS in the $11.75 – $11.77 ex-items range, ahead of the current $11.38 estimate.
- They also raised FY26 revenue guidance to $41.45B to $41.55B signalling a powerful pipeline of future revenue.
- They also highlighted their Agentforce and Data 360 products as the momentum drivers. Stating “Our Q3 momentum and continued Agentforce adoption further reinforces our path to achieve our $60B plus organic revenue target and our Profitable Growth Framework target of 50 by FY30”.
Rio Tinto hits record high – New CEO outlines strategy
- Shares in mining giant Rio Tinto hit an all-time high last week amongst some broader strength in the sector. At their
- Capital Markets Day new CEO Simon Trott outlined the company’s updated strategy to become the most valued metals and mining business in the world.
- CEO Trott said: “We are building from a position of strength for Rio Tinto’s next chapter, sharpening and simplifying the business to deliver leading returns. We will drive performance through discipline, productivity, and unmatched growth to unlock the full potential of our diversified portfolio of world-class assets.
Meta looking to cut spending on Metaverse
- Facebook owner, Meta, shares rose on reports the company is planning big cuts to its metaverse division, a few years since the company changed its name from Facebook to reflect its renewed interest in that same metaverse.
- The budget cuts could be as much as 30% and will likely impact the virtual worlds product Meta Horizon Worlds and the Quest virtual reality headset.
- The technology hasn’t exactly taken off and has been a bit of dud with investors. The AI space seems to be where Meta will be concentrating their investment efforts.
The Week Ahead
- Monday 8 December: China Exports YoY (Nov) 4.0% (prior) -1.1%, Trade Balance (Nov) $103.1bn (prior $90.07b).
- Tuesday 9 December: USA Housing Starts (Sept) 1,329k (prior 1,307k), New Home Sale (Sep) 709k (prior 800k) . Australia RBA Cash Rate Target 3.6% (current 3.6%).
- Wednesday 10 December: USA JOLTS Job Openings 7,150k. China PPI YoY (Nov) -2.0% (prior -2.1%), CPI YoY (Nov) 0.7% (prior 0.2%).
- Thursday 11 December: USA FOMC Rate Decision 3.50% – 3.75% (current 3.75% – 4.0%). Australia Employment Change (Nov) 20.0k (prior (42.2k), Unemployment Rate (Nov) 4.4% (prior 4.3%).
- Friday 12 December: USA Initial Jobless Claims (Dec 6) 220k (prior 191k)
Saward Dawson Wealth Advisors Pty Ltd, a Corporate Authorised Representative of Akambo Pty Ltd t/a Accountants Private Advice
The information presented in this publication is general information only, and is not intended to be financial product advice. It has not been prepared taking into account your investment objectives, financial situation or needs, and should not be used as the basis for making an investment decision. Before making any investment decision you need to consider (with your financial adviser) your particular investment needs, objectives and financial circumstances.
Some numerical figures in this publication have been subject to rounding adjustments. Akambo Pty Ltd (including any of its directors, officers or employees) will not accept liability for any loss or damage as a result of any reliance on this information. The market commentary reflect Akambo Pty Ltd’s views and beliefs at the time of preparation, which are subject to change without notice.
