ASX 200 breaks out of range

The Australia 200 trades 117 points (1.33%) higher at 8963 at 2.45pm AEST.

ASX 200 breaks out of range

The Australia 200 (ASX 200) has broken free of the narrow 160-point range it has been confined to over the past four weeks, surging by 120 points (1.35%) to a high of 8965.

The gains in the ASX 200 follow a positive start to the new quarter on Wall Street, which ended at fresh record highs after a soft Automatic Data Processing (ADP) employment report. This report led to the United States (US) interest rate market fully pricing in a 25 basis point (bp) cut later this month, with an 88% probability of a follow-up 25 bp cut in December.

Impact of Supreme Court ruling

The US Supreme Court’s decision to block President Trump from removing Federal Reserve (Fed) Governor Lisa Cook until January 2026 may ease concerns over the Fed's independence and the prospect of another dovish appointment to the Fed Board.

ASX 200 stocks

Financial sector

The heavyweight financials sector reached its highest level in over a month following a near 5% correction from its late-August high. ANZ climbed 2.37% to $34.07

• Commonwealth Bank of Australia (CBA) lifted 1.95% to $170.35
• Westpac rose 1.48% to $39.32
• National Australia Bank (NAB) added 1.30% to $44.58.

Gold stocks

The  Supreme Court ruling removed two of the key factors supporting gold's run toward $3900 this week, affecting support for ASX-listed gold stocks. De Grey Mining, Gold Road Resources, Regis Resources, and Silver Lake Resources all traded flat on the day.

Health care sector

In the health care sector, gains mirrored sector moves on Wall Street overnight.

• Primary Health Care lifted 3% to $0.77
• CSL surged 3.51% to $205.78
• Ansell added 2.26% to $32.58
• Sonic Health Care gained 1.45% to $21.63.

Materials sector

The ASX 200 materials sector gained 2.55% to reach its highest level in sixteen months.

• Rio Tinto rose 2% to $125.03
• Fortescue added 1.69% to $19.26
• BHP gained 1.86% to $42.23, recovering a portion of yesterday’s 2.49% fall after reports that China had banned its steelmakers from purchasing iron ore from BHP.

Uranium stocks

Following a 58% rise in September, Silex Systems jumped 5.83% today to $6.89. Other uranium stocks also rallied:

• Paladin increased 5.14% to $8.59
• Boss Resources added 4.33% to $2.05
• Deep Yellow climbed 3.76% to $2.06.

ASX 200 technical analysis

Last month’s consolidation helped the ASX 200 alleviate overbought readings after its run of new highs in August. While a final leg lower towards 8600 was anticipated to complete the correction, today's emphatic break above the 8880 - 8900 resistance zone has shifted the outlook.

It is likely that the ASX 200 has established a medium-term base around 8730, and providing it holds above 8850, it is set to retest the 9054 record high in upcoming sessions.

ASX 200 daily chart

• _{Source: TradingView. The figures stated are as of 2 October 2025. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}