Why did the Nasdaq rise while the S&P 500 fell?

The Nasdaq gained due to a surge in Apple shares following news of its large-scale US investment, while other sectors pulled the broader S&P 500 down.

What should I look out for in QBE and Nick Scali's earnings?

Key areas include QBE’s underwriting margins and investment income, and Nick Scali’s performance in retail sales and operating leverage.

How could new US chip tariffs impact global markets?

The tariffs may affect semiconductor supply chains globally, although exemptions for firms like Apple and TSMC may cushion short-term disruption.

ASX 200 in Focus: Apple Lifts Nasdaq, QBE (ASX:QBE) and Nick Scali (ASX:NCK) Set to Report Earnings

3 min read | August 07, 2025 04:57 PM PDT | By Team Kalkine Media

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ASX 200 in Focus: Apple Lifts Nasdaq, QBE (ASX:QBE) and Nick Scali (ASX:NCK) Set to Report Earnings — Image source: Shutterstock

Market Overview: US Mixed, ASX 200 Set for Softer Open

Markets opened Friday with a cautious tone as futures pointed to a modest dip in the ASX 200, following mixed cues from Wall Street. While the S&P 500 edged lower, the Nasdaq reached a fresh high, supported by gains in Apple, which announced a large investment plan exempting it from new chip tariffs.

In the global context, geopolitical factors continue to shape investor sentiment. Recent policy changes in the US—particularly the rollout of higher chip tariffs and broader inclusion of alternative assets in retirement accounts—added layers of uncertainty. Yet, Apple’s commitment to investing in US-based manufacturing offered markets a momentary lift.

For local investors tracking ASX 200 companies, today's key focus will be on earnings from insurance major QBE (ASX:QBE) and furniture retailer Nick Scali (ASX:NCK). Both companies are positioned to reveal their financial performance amid a changing macroeconomic backdrop.

Global Signals and Sector Movements

Across major indices, the Dow Jones and Russell 2000 both closed in the red, while the NASDAQ Composite continued upward, supported by the tech-heavyweight rally. In terms of commodities, gold and copper remained slightly higher, offering a steady backdrop for mining and materials-focused investors.

In the sectoral breakdown, Utilities, Information Technology, and Consumer Staples registered gains, while Financials and Health Care sectors lagged. The implications of these rotations may carry over into today’s ASX trading session, as investors adjust portfolios ahead of local earnings.

Meanwhile, Fortescue Metals (ASX:FMG) announced securing a new loan facility to fund its projects, while Block (ASX:SQ2) revised its full-year earnings outlook following stronger quarterly performance. Additionally, GQG Partners (ASX:GQG) reported a decline in funds under management, continuing to attract attention in the financial services space.

What's on the Radar for Investors

Earnings from QBE (ASX:QBE) and Nick Scali (ASX:NCK) are expected to provide insight into the insurance and retail landscape respectively. While QBE is among Australia’s largest insurers with a global footprint, Nick Scali’s performance will reflect trends in discretionary consumer spending and broader retail conditions.

Other key updates include developments around Light & Wonder (ASX:LNW) and AMP (ASX:AMP), which showed notable share price movements post-earnings. In contrast, BNPL-related stocks may experience pressure following a mixed set of earnings in the sector.

Frequently Asked Questions

Why did the Nasdaq rise while the S&P 500 fell?
The Nasdaq gained due to a surge in Apple shares following news of its large-scale US investment, while other sectors pulled the broader S&P 500 down.
What should I look out for in QBE and Nick Scali's earnings?
Key areas include QBE’s underwriting margins and investment income, and Nick Scali’s performance in retail sales and operating leverage.
How could new US chip tariffs impact global markets?
The tariffs may affect semiconductor supply chains globally, although exemptions for firms like Apple and TSMC may cushion short-term disruption.

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