Australian futures were little changed on Friday morning, as investors looked ahead to a busy day of corporate earnings and anticipated developments in trade talks between the United States and China scheduled for the weekend.
S&P/ASX 200 futures inched up 3 points, or 0.04%, suggesting a subdued start to the trading session.
Overseas, the U.S. and U.K. announced a preliminary trade agreement that includes the reduction or removal of tariffs on British exports such as automobiles, steel, and aluminium.
However, Washington’s 10% baseline tariff will continue to apply to most U.K. imports, and final details are still being negotiated.
Meanwhile, U.S. Treasury Secretary Scott Bessent is scheduled to meet with Chinese officials in Switzerland this weekend to resume trade and economic talks.
Wall Street closed higher overnight, buoyed by trade optimism. The Dow Jones Industrial Average and S&P 500 each rose 0.6%, while the Nasdaq Composite gained 1.1%.
In corporate news, Macquarie Group posted a 5% increase in full-year profit to A$3.72 billion, while total assets under management remained flat.
Several major Australian companies - including Macquarie, QBE Insurance, News Corp, and REA Group - are reporting results during Friday’s session.
Looking ahead, China is expected to release its April trade balance today, and inflation data on Saturday.
On the bond markets, 10-year rates were up 0.9% to 4.288%, while 2-year yields fell 0.2% to 3.384%.
