FEAR & GREED | Business News Afternoon Report | ASX higher on US shutdown hopes
Nov 10, 2025
The ASX rises 0.8% amid hopes of a US government shutdown breakthrough. McDonald’s is shifting to chicken as Aussies seek value, with locals consuming around 54 kg of chicken per person annually. In a notable appointment, Jay Weatherill becomes High Commissioner to London to strengthen defense partnerships. Meanwhile, the National Reconstruction Fund invests $54 million in a brain-chip firm, aiming to help paralysed individuals control tech. Progress in US Senate negotiations brings hope for furloughed workers and resumed benefits.
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Market Rallies On US Shutdown Hope
- ASX climbed 0.8% as optimism around a US shutdown breakthrough lifted multiple sectors.
- Tech, miners and some banks led gains driven by hopes of resumed US federal activity and rate-cut expectations.
Sector Winners Were Tech And Gold Miners
- Tech stocks led the session with standout performers like WiseTech and Life360.
- Gold miners and some banks gained as gold rose on renewed US rate-cut hopes and sector-specific news.
McDonald's Finds Success With Chicken In Australia
- McDonald's singled out Australia as a top market for McWings as diners shift from beef to cheaper chicken.
- CEO Chris Kemsinski said value menus like McSmart and Loose Change helped drive the product's success.