The sharemarket is set to drop, bucking a dramatic reversal on Wall Street as investors took cues from mixed economic data that the US economy could weather President Donald Trump’s tariff storm. US futures rose.
ASX futures were pointing down 0.3 per cent, or by 28 points, predicting the S&P/ASX 200 index will open at 8114 and snap a five-day winning streak.
The S&P 500 sank as much as 2 per cent before entirely paring losses. The Nasdaq Composite shed nearly 3 per cent, but closed down just 0.1 per cent.
Source: https://www.afr.com/markets/equity-markets/asx-to-drop-wall-st-pares-losses-after-weak-gdp-data-20250430-p5lvjc