Wall Street Rotates to Value as Tech Wavers, ASX 200 Futures Point Upbeat Start

3 min read | July 23, 2025 05:32 PM AEST | By Team Kalkine Media

Wall Street Rotates to Value as Tech Wavers, ASX 200 Futures Point Upbeat Start — Image source: Shutterstock

Tech Sector Pullback Ends Nasdaq Run

Information technology stocks, which had previously driven market gains, lost traction. Apple (NASDAQ:AAPL) faced fresh scrutiny over changes to its App Store policies. Meanwhile, Oracle (NYSE:ORCL) partnered with OpenAI to expand data center infrastructure, scaling capacity through gigawatt-scale investments. Despite these developments, tech sector momentum slowed, prompting a retreat in the Nasdaq Composite Index.

Value Sectors Gain Strength

Healthcare, Real Estate, and Utilities emerged as top performers during the session. AstraZeneca (NASDAQ:AZN) announced a substantial expansion initiative in the US, with infrastructure and R&D projects slated across multiple states. This added strength to healthcare equities, helping the sector top the performance leaderboard. Real estate also saw renewed traction amid shifting capital flows, while utilities benefitted from broader rotation trends.

Commodities and Global Indices Reflect Mixed Trends

In the commodities space, copper and gold recorded gains, while oil remained under pressure. These moves occurred against a backdrop of changing currency and bond market dynamics. The US 10-year bond yield eased, and the AUD/USD remained steady. On the global front, markets in China, Hong Kong, and Canada posted positive closes. However, European benchmarks such as Germany’s DAX lagged behind, mirroring some weakness in industrial names.

Headlines in Focus

Trade and geopolitical narratives continued to shape sentiment. The US confirmed a trade and military agreement with the Philippines, including tariff reductions. Discussions with India and Malaysia were still underway, with key sticking points in the pharmaceutical and EV sectors. Meanwhile, copper shipments to the US surged ahead of expected tariff timelines, reshaping supply dynamics.

Meme Stocks and Crypto Developments

Retail trading names made headlines as Kohl's (NYSE:KSS) experienced a sharp upward move after being spotlighted on online forums. In digital assets, Bitcoin rallied while Ethereum saw modest declines. Traditional financial institutions, including JPMorgan (NYSE:JPM), evaluated new approaches for crypto-backed financing, reflecting continued activity in the space.

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