liveMarkets live updates: ASX set to slip as Wall Street ends nine-day winning streak ahead of Fed meetingBy business reporter Stephanie ChalmersTopic:Stock Market41m ago41 minutes agoMon 5 May 2025 at 9:40pmSkip to timelineabc.net.au/news/asx-markets-business-live-news-may-6-2025/105257156Link copiedShareShare articleASX futures are lower after Wall Street fell following a recent streak of gains, with Donald Trump's film tariff announcement and the looming Federal Reserve meeting in focus.The Australian dollar continued to push higher against the falling greenback as oil prices fell and gold rose.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 EventsOil slumps as production hikes continue29m ago29 minutes agoMon 5 May 2025 at 9:52pmASX to slip as Wall Street's 9-session winning streak ends55m ago55 minutes agoMon 5 May 2025 at 9:26pmSubmit a comment or question Log in to commentLive updatesLatestOldestPinned1h agoMon 5 May 2025 at 9:15pmMarket snapshotSBy Stephanie ChalmersASX futures: -0.3% to 8,152 pointsAustralian dollar: +0.1% to 64.64 US centsS&P 500: -0.6% to 5,650 pointsNasdaq: -0.7% to 17,844 pointsFTSE: +1.2% to 8,596 pointsEuroStoxx 600: +0.2% to 537 pointsSpot gold: +2.9% to $US3,333/ounceBrent crude: -1.6% $US60.33/barrelIron ore: -0.3% to $US97.35/tonneBitcoin: +0.3% to $94,522Prices current around 7:10am AESTCopy link4m agoMon 5 May 2025 at 10:17pmWhen is the next RBA meeting? Not todaySBy Stephanie ChalmersIt's the first Tuesday of the month, so you could be forgiven for thinking it's a Reserve Bank interest rate decision day, after years of conditioning.But with the RBA monetary policy board now meeting less frequently, the next meeting doesn't kick off until Monday May 19.The RBA will deliver its interest rate decision on Tuesday May 20 at 2:30pm AEST — so two weeks to go.Markets are currently pricing in a 97 per cent chances of a 25 basis point cut, according to LSEG.Here's the schedule for the rest of the year:Board Meeting SchedulesCopy link14m agoMon 5 May 2025 at 10:06pmWatch: the economic challenges facing re-elected Labor governmentSBy Stephanie ChalmersFears of a US recession and a global slowdown caused by Donald Trump's tariffs and trade war with China are hitting business confidence, hiring and investment plans.It sets a challenging economic backdrop for the re-elected Albanese government and is a major priority, with the Treasurer receiving a briefing on the trade war over the weekend.Business reporter Rhiana Whitson spoke to economists and business groups about how the uncertainty is already having an impact.Watch the report from The Business:Loading...Copy linkKey Event29m agoMon 5 May 2025 at 9:52pmOil slumps as production hikes continueSBy Stephanie ChalmersOil prices have faced pressure after Organisation of the Petroleum Exporting Countries and other oil-producing nations' (referred to as OPEC+) decided to add further to supply, as Donald Trump's tariffs hit the demand outlook.Here's what ANZ Research analysts Brian Martin & Daniel Hynes make of the outlook:"The higher-than-expected rise in supply comes amid darkening clouds over the global economy."President Trump's trade war threatens to derail the economic growth that emerged late last year."This sets the scene for ongoing downward pressure for oil prices."Copy linkKey Event55m agoMon 5 May 2025 at 9:26pmASX to slip as Wall Street's 9-session winning streak endsSBy Stephanie ChalmersGood morning, Steph Chalmers here to take you through the morning on markets.Futures are pointing to local stocks slipping at the start of trade, after the S&P 500 snapped a nine-session streak of gains on Wall Street.Donald Trump's 100 per cent tariff on films produced outside America was one of the factors hitting sentiment, while traders are also awaiting the Federal Reserve's two-day meeting this week.Locally, the Australian dollar continued to push higher against the greenback.Stick with us through the day!Copy linkPosted 41m ago41 minutes agoMon 5 May 2025 at 9:40pmShare optionsCopy linkFacebookX (formerly Twitter)TimelineRead nextCommentsTimelineKey EventsLatestMarket snapshotRBAEconomyLaborCommoditiesMarketsOil slumps as production hikes continue29m ago29 minutes agoMon 5 May 2025 at 9:52pmASX to slip as Wall Street's 9-session winning streak ends55m ago55 minutes agoMon 5 May 2025 at 9:26pmTop StoriesSea of solar gives a clue why Australians chose batteries over nuclear Topic:Energy PolicyPhoto shows Electricians place solar panels on roofAfter millions of dollars and texts, Trumpet of Patriots fails to deliverTopic:ElectionsGreens' Adam Bandt in danger as seat of Melbourne remains on knife's edgeTopic:ElectionsArthur Sinodinos says Coalition's campaign looked 'ad hoc' and 'reactive'Topic:ElectionsThe timeline prosecutors allege in the mushroom murder trialTopic:ExplainerJust InIllegal campers dump toilet alongside rubbish at holiday hotspotTopic:Travel and Tourism18m ago18 minutes agoMon 5 May 2025 at 10:03pmStars arrive at Met for fashion's biggest nightLIVE37m ago37 minutes agoMon 5 May 2025 at 9:43pmZhao becomes China's first world snooker champion after comeback from banTopic:Sport39m ago39 minutes agoMon 5 May 2025 at 9:42pmGruelling 303km outback run shines light on mental healthTopic:Mental Health40m ago40 minutes agoMon 5 May 2025 at 9:40pmMore Just InBack to top