US Markets
The S&P 500 was little changed on Friday, pausing after a strong week as investors assessed trade and inflation developments.
The Dow fell 0.37% to 44,546.08, the S&P 500 dipped 0.01% to 6,114.63, while the Nasdaq gained 0.41% to 20,026.77.
Despite Friday’s muted session, all three indexes ended the week higher. Investor sentiment improved with more clarity on President Trump’s tariff plans and inflation data seen as less concerning. Markets also brushed off a sharper-than-expected 0.9% drop in January retail sales.
For the week, the S&P 500 rose 1.5%, the Dow gained 0.6%, and the Nasdaq climbed 2.6%.
Australian Market
Australian shares are set to open lower, following minor Wall Street losses despite soft US data reinforcing rate-cut expectations.
ASX futures fell 0.6% on Monday, pointing to a decline from Friday’s record close of 8555.8. Traders await the Reserve Bank’s first 2025 rate decision on Tuesday, with markets pricing a 96% chance of a cut to 4.1%.
Company News
Oaktree Capital Management is attempting to buy out Star Entertainment’s lenders, reportedly the final hurdle before the casino group’s board moves to appoint voluntary administrators, according to Street Talk.
Westpac’s first-quarter net profit fell 9% to $1.7bn due to hedge accounting trends, which the bank expects to reverse over time. Excluding this, profit rose 3%.
a2 Milk raised its full-year revenue forecast after first-half revenue rose 10% to $893.8m, with earnings up 5% to $118.9m.
Rio Tinto assured investors that its multibillion-dollar Oyu Tolgoi copper mine expansion in Mongolia remains on budget and schedule, despite crisis meetings over potential delays.
A renewable energy generator majority-owned by Infratil has cut its full-year earnings guidance to NZ$80–95m, down from NZ$95–115m.
