liveMarkets live: ASX to open lower, Wall Street falls on lack of progress with Trump trade dealsBy business reporter David ChauTopic:Financial Markets25m ago25 minutes agoTue 6 May 2025 at 10:04pmSkip to timelineabc.net.au/news/asx-markets-business-live-news-may-7-2025/105262110Link copiedShareShare articleThe Australian share market is set to fall for a third straight day as investors grow nervous about the lack of meaningful progress in negotiations to de-escalate Donald Trump's trade war with the rest of the world.Wall Street tumbled overnight after the US president made remarks that suggested any trade deals with other countries might not happen as quickly as the markets would like.See how the trading day unfolds on our blog.Disclaimer: this blog is not intended as investment advice.Key EventsNAB half-year net profit slips to $3.4 billion3m ago3 minutes agoTue 6 May 2025 at 10:26pmGold and oil prices rebound, Wall Street drops for second straight day15m ago15 minutes agoTue 6 May 2025 at 10:14pmASX to fall on lack of progress with US trade deals, Aussie dollar rises above 65 US cents29m ago29 minutes agoTue 6 May 2025 at 10:00pmSubmit a comment or question Log in to commentLive updatesLatestOldestPinned29m agoTue 6 May 2025 at 10:00pmMarket snapshotDBy David ChauASX futures: -0.4% to 8,133 pointsASX 200 (Tuesday close): -0.1% to 8,151 pointsAustralian dollar: +0.5% to 64.97 US centsWall Street: Dow Jones (-1%), S&P 500 (-0.8%), Nasdaq (-0.9%)Europe: FTSE (flat), DAX (-0.4%), EuroStoxx 600 (-0.2%)Spot gold: +2.9% $US3,431/ounceBrent crude: +3% $US62.03/barrelIron ore: +2% to $US98.50/tonneBitcoin: +0.1% to $94,763Prices current around 8am AESTCopy linkKey Event3m agoTue 6 May 2025 at 10:26pmNAB half-year net profit slips to $3.4 billionMBy Michael JandaNational Australia Bank has just released its half-year results to the market, headlined by a 2.5% fall in statutory net profit to $3,407 million.That was despite a 1.1% rise in revenues and a stable net interest margin at 1.7%.Credit impairment charges were down compared with the second half of last year, but up compared to a year ago.The bank noted a small rise in impaired assets and defaults, with defaults now running at 1.27% and impaired assets at 0.22% of total loans.NAB CEO Andrew Irvine said the bank was being managed well in "challenging operating conditions"."Cash earnings were 0.8% higher than 2H24, with underlying profit growth and lower credit impairment charges partially offset by a higher effective tax rate," he noted in a statement."We are optimistic about the underlying growth outlook for the Australian and New Zealand economies."However, escalating global trade tensions are a key source of uncertainty. Against this backdrop, we have maintained strong balance sheet settings."NAB will pay an interim dividend of 85 cents a share, which is the same as its final dividend in the second half of last year.Mr Irvine will be interviewed by The Business presenter Kirsten Aiken later today, and you can watch that interview at 8:44pm on ABC News Channel or a couple of hours earlier on iView.Copy link13m agoTue 6 May 2025 at 10:15pmWhy Aussie could push above 70 US cents by year's endSBy Stephanie ChalmersThe Australian dollar has pushed above 65 US cents — here's how it's travelled over the last few hours:AUDUSD (LSEG Refinitiv)After hitting a five-year low in early April, breaking below the 60 US cent barrier as Donald Trump's tariffs roiled markets.Now, it's heading in the other direction and analysts are predicting it could have further to run from here.NAB currency strategist Rodrigo Catril says the US dollar is potentially embarking on structural decline driven by US President Donald Trump's policies, particularly tariffs and the trade war with China.He joined Kirsten Aiken on The Business:Loading...Copy linkKey Event15m agoTue 6 May 2025 at 10:14pmGold and oil prices rebound, Wall Street drops for second straight dayDBy David ChauBefore the ASX trading day begins in a couple of hours, let's take a quick look at what happened on markets overnight:Gold prices jumped to a two-week high, with the spot price rising 2.6% to $US3,421 an ounce. (It's also not far from the record high it touched last month).Oil prices rebounded, after hitting a four-year low earlier this week. Brent crude futures jumped 3.4% to $US62.15 a barrel.Wall Street fell for its second day in a row. The Dow Jones closed 1% lower at 40,829 points, while the S&P 500 dropped 0.8% to 5,607 points, and the Nasdaq Composite slipped 0.9% to 17,690 points. Copy linkKey Event29m agoTue 6 May 2025 at 10:00pmASX to fall on lack of progress with US trade deals, Aussie dollar rises above 65 US centsDBy David ChauGood morning and welcome to the ABC's daily finance blog! I'll be your guide for the next few hours.The Australian share market is set to begin its day lower, following another weak performance on Wall Street on the back of Trump-related headlines (again).ASX futures are down 0.4%, so that points to a slight drop for the local market (make it the third day in a row it has fallen).US President Donald Trump has met with newly-elected Canadian Prime Minister Mark Carney in the White House, who reiterated his country is "not for sale" and "won't be for sale ever".Trump, meanwhile, made some remarks which made investors a little nervous."Everyone says, ‘When, when, when are you going to sign deals?’ We don’t have to sign deals," the President said.“They have to sign deals with us. They want a piece of our market. We don’t want a piece of their market.”Once again, investors are getting 'mixed messages' from the White House about how long it will take for America's trade war with the rest of the world to de-escalate.Earlier this week, Treasury Secretary Scott Bessent said "we’re very close to some deals".Even Trump himself, on the weekend, said some trade deals could happen as early as this week.Lately, stock markets across the world have been surging on speculation some deals would be announced soon.Some of that enthusiasm faded on Wall Street overnight, with the Dow Jones (-1%), S&P 500 (-0.8%)and Nasdaq Composite (-0.9%) recording sizable losses.There were also signs of 'trade anxiety' on currency markets.The US Dollar Index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.6% to 99.19.The weaker greenback helped push the Australian dollar (briefly) above 65 US cents overnight, the highest it's been since the year began.Copy linkPosted 25m ago25 minutes agoTue 6 May 2025 at 10:04pmShare optionsCopy linkFacebookX (formerly Twitter)TimelineRead nextCommentsTimelineKey EventsLatestMarket snapshotCompany newsMarketsNAB half-year net profit slips to $3.4 billion3m ago3 minutes agoTue 6 May 2025 at 10:26pmGold and oil prices rebound, Wall Street drops for second straight day15m ago15 minutes agoTue 6 May 2025 at 10:14pmASX to fall on lack of progress with US trade deals, Aussie dollar rises above 65 US cents29m ago29 minutes agoTue 6 May 2025 at 10:00pmTop StoriesThree dead after India strikes nine Pakistan sites, officials sayTopic:Unrest, Conflict and WarBreaking: India claims targets in Pakistan were 'terrorist infrastructure'Topic:Unrest, Conflict and WarCourt orders release of 'vicious' CCTV footage after three-year legal battleTopic:CrimeWho won the election culture wars? Not Dutton or PalmerAAnalysis by Annabel Crabb'Takes two to tango': Takeaways from the Trump-Carney White House chatTopic:World PoliticsJust InASX to open lower, Wall St falls on lack of progress with Trump trade dealsLIVE25m ago25 minutes agoTue 6 May 2025 at 10:04pm'A wild ride': Aussie sprint ace Ewan stuns cycling world with retirementTopic:Road Cycle Racing25m ago25 minutes agoTue 6 May 2025 at 10:04pmChina congratulated Albanese on election night. That tells us a lotBAnalysis by Bang Xiao42m ago42 minutes agoTue 6 May 2025 at 9:46pmAt 82, author Isabel Allende thinks about death a lot. But also loveTopic:Books34m ago34 minutes agoTue 6 May 2025 at 9:55pmMore Just InBack to top