ASX futures ticked lower ahead of Friday's trading session, with sentiment weighed down by renewed global trade uncertainty and caution surrounding key economic data releases. The dip comes after the ASX 200 closed at a three-month high on Thursday.
SPI futures were down 17 points, or 0.2%, reflecting investor wariness as markets reacted to the latest developments in United States trade policy.
Traders are closely watching for further clarity after President Donald Trump secured a legal reprieve to proceed with his “Liberation Day” tariffs, a day after a federal court ruled the measures had been imposed unlawfully.
Despite the trade concerns, United States equities finished modestly higher overnight. The Dow Jones Industrial Average gained 0.3%, while the S&P 500 and Nasdaq added 0.4% apiece.
Nvidia shares continued their rally, climbing 3.3% as investors remained enthusiastic following its better-than-expected quarterly results earlier in the week.
On the domestic front, attention turns to April retail sales figures due at 11:30 am AEST (1:30 am GMT) with markets expecting a 0.3% month-on-month rise, steady with March’s 0.3% increase.
The report is expected to reflect lingering impacts from heavy rainfall and flooding that affected consumer activity through March, April and into May.
Meanwhile, HealthCo Healthcare & Wellness REIT has reached an agreement with Healthscope and its receivers to partially defer rent payments, offering temporary financial relief as the healthcare property sector continues to navigate broader economic headwinds.
Internationally, investors are awaiting the release of U.S. personal income and spending data, along with the core PCE price index - the Federal Reserve’s preferred inflation gauge.
