liveMarkets live updates: Shares keep rising as US sees record trade deficit ahead of Liberation Day tariffsBy business editor Michael JandaTopic:Stock Market43m ago43 minutes agoTue 29 Apr 2025 at 9:28pmSkip to timelineabc.net.au/news/asx-markets-business-news-live-updates/105232100Link copiedShareShare articleAustralian shares are poised for further steady gains as Wall Street continues to rise on optimism that US President Donald Trump will roll back his trade war.The effect of his tariff plan on the US economy was highlighted by a record trade deficit in March, as American importers raced to bring in goods ahead of the Liberation Day announcement.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.Key EventsUS posts record trade deficit ahead of Liberation Day40m ago40 minutes agoTue 29 Apr 2025 at 9:31pmMarkets set for further steady gains57m ago57 minutes agoTue 29 Apr 2025 at 9:15pmSubmit a comment or question Log in to commentLive updatesLatestOldestPinned25m agoTue 29 Apr 2025 at 9:46pmMarket snapshotMBy Michael JandaASX 200 futures: +0.3% to 8,112 pointsAustralian dollar: Flat at 63.83 US centsS&P 500: +0.6% to 5,561 pointsNasdaq: +0.6% to 17,461 pointsFTSE: +0.6% to 8,463 pointsEuroStoxx: +0.4% to 525 pointsSpot gold: -0.8% to $US3,316/ounceBrent crude: -2.9% to $US63.93/barrelIron ore: -0.1% to $US99.80/tonneBitcoin: -0.3% to $US94,613Live updates on the major ASX indices:Copy link6m agoTue 29 Apr 2025 at 10:05pmWhat happened on the ASX yesterdayMBy Michael JandaNo better place to find out in less than two minutes than by watching Alan Kohler's 7pm News finance report.Loading YouTube contentCopy link9m agoTue 29 Apr 2025 at 10:02pmTrump says he will talk to Australia about reduced tariffsMBy Michael JandaThis story out from my colleague in our Washington DC bureau, Brad Ryan.Donald Trump has confirmed to reporters that the Australian government has been calling about receiving better treatment on tariffs than the 10% blanket import tax announced on Liberation Day, along with previously announced 25% tariffs on aluminium and steel.He says he will get around to talking with Australia's representatives on trade.Read more here.Trump says Australia has 'been calling' about tariffs and he will talk to PMCopy linkKey Event40m agoTue 29 Apr 2025 at 9:31pmUS posts record trade deficit ahead of Liberation DayMBy Michael JandaHighlighting the profound effect Donald Trump's tariffs are having on the economy, even before they took effect, the US posted its biggest ever trade deficit in March, at $US162 billion ($253 billion).The result was driven by a record $US342.7 billion ($536.7 billion) of imports, as businesses raced to bring in goods ahead of Liberation Day — Donald Trump's tariff announcement on April 2.Many will be glad they did, with a blanket 10% minimum tariff on virtually all imports, 25% on many specific goods and tariffs ultimately up to 145% on Chinese goods implemented.Reuters is reporting that:"The report from the Commerce Department's Census Bureau prompted economists to sharply downgrade their GDP estimates for last quarter to show a steeper decline rather than growth just stalling."Goldman Sachs now sees GDP contracting at a 0.8% annualised rate while JPMorgan forecasts output declining at a 1.75% pace."The economy grew at a 2.4% rate in the fourth quarter."The US government is expected to release its first estimate for March quarter GDP overnight (Australian time).Copy linkKey Event57m agoTue 29 Apr 2025 at 9:15pmMarkets set for further steady gainsMBy Michael JandaGood morning and welcome to another day on the markets.Since the last time I was running the blog a few weeks back, things have become much quieter.There seems to be a prevailing view that the Trump administration is giving ground on tariffs and will ultimately back down on most of them.As my colleague Dan Ziffer pointed out on the blog yesterday, US magazine Time's full interview with President Trump makes that seem unlikely.If you didn't have time yesterday, I'd strongly urge you to have a read — it's very revealing of the thinking (or some may argue lack thereof) of the world's most powerful man.However, markets have recovered from their Liberation Day and subsequent losses, and that continued overnight.The benchmark S&P 500 index on Wall Street closed up 0.6% to 5,561 points, as did the tech heavy Nasdaq to 17,461 points.It seems like 0.6 was a popular number, with the FTSE gaining that percentage to 8,463 points and Germany's DAX outperforming ever so slightly, up 0.7%.The Eurostoxx index was up 0.4%.ASX 200 futures are up 0.3% to 8,112, pointing to modest gains at the local open.Westpac's Imre Speizer said the buying was not super enthusiastic."Sentiment remained mixed among asset classes, reflecting mixed views on the outcome of the US' trade policy," he wrote."Bond yields fell further and equities rose further, while the US dollar is slightly higher."Despite the rising US dollar, the Aussie held firm at 63.83 US cents.Commodities markets agreed with the bond traders that US and global growth is likely to slow, with oil, copper and iron ore all lower, including quite a big 2.9% slide for the benchmark Brent crude futures.It may not look like such a wild ride, but stay with me and my colleagues as we keep you up to date with today's market action.Copy linkPosted 43m ago43 minutes agoTue 29 Apr 2025 at 9:28pmShare optionsCopy linkFacebookX (formerly Twitter)TimelineRead nextCommentsTimelineKey EventsLatestMarket snapshotEconomyCommoditiesMarketsUS posts record trade deficit ahead of Liberation Day40m ago40 minutes agoTue 29 Apr 2025 at 9:31pmMarkets set for further steady gains57m ago57 minutes agoTue 29 Apr 2025 at 9:15pmTop StoriesAustralia faces a 'lonelier' world with rules-based order crumblingTopic:National SecurityPhoto shows Two men wearing glasses and suits behind the backdrop 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