S&P 200 slips on cautious RBA tone; gains in healthcare, miners limit downside

2 min read | July 25, 2025 03:10 PM AEST | By Team Kalkine Media

S&P 200 slips on cautious RBA tone; gains in healthcare, miners limit downside — Image source: Shutterstock

Interest rate caution dims early gains

A cautious outlook on monetary policy from the RBA’s latest address led to a reassessment across sectors. While the central bank left rates unchanged earlier in the month, the governor’s commentary tempered expectations of easing, particularly in light of persistent inflation data and recent labour market trends. The market had begun the day anticipating changes, but expectations moderated throughout the session.

Financials weigh on the benchmark

The banking segment experienced mixed movements as the broader index turned lower. Shares in (ASX:MQG) declined after the group’s first-quarter update and executive leadership announcement. Other major banks including (ASX:ANZ), (ASX:CBA), (ASX:WBC), and (ASX:NAB) saw varied activity, with some posting mild gains while others remained under pressure.

Healthcare sector extends July rebound

Healthcare stocks provided a buffer to broader market softness. The sector showed strength throughout the month and continued its upward trajectory today. Gains were recorded in (ASX:ANN), (ASX:CSL), (ASX:SHL), and (ASX:RMD), with several names pushing higher for the second consecutive week.

Miners support the downside

The mining sector added some stability as resource-focused names reacted to stronger output results and commodity tailwinds. (ASX:FMG) advanced following an update on iron ore shipments. Meanwhile, (ASX:MIN), (ASX:RIO), and (ASX:BHP) also saw positive movement, with the latter trading flat after a strong run earlier in the week.

Mixed action across technology

Information technology names delivered a patchy performance, following earnings news from key U.S. peers. Domestic names including (ASX:ZIP) and (ASX:MP1) advanced modestly, while (ASX:DRO) and (ASX:CPU) moved lower as the day progressed.

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