Market Wrap / no beef with Trump

The local market fell on Friday, ending flat for the week, as gains were offset by renewed trade tension globally.  

The S&P/ASX200 fell 0.9% to 8662 points, down 0.1% for the week. 

US President Trump delivered a raft of tariff levies on countries; however, Australia maintained the base rate of 10% tariff on US exports, with Australian Trade Minister Don Farrell confirming that no country has reciprocal tariffs lower than Australia.

ResMed jumped 1% after beating its fourth-quarter earnings forecasts on strong demand for its sleep apnea devices, while also forecasting higher-than-expected gross margins for the year ahead.

Soul Patts dropped 0.6% as the business expected its preliminary net asset value to come in between $12.18 billion and $12.68 billion for FY25.

And shares in Star tanked, down 16.4%, after it said it is considering alternative options for its 50% stake in Brisbane's new Queen's Wharf casino and hotel complex, after its Hong Kong-based investors declined to extend a key deal deadline.

Tonight, we get the US non-farm payrolls. And Exxon, Chevron, Colgate-Palmolive and Moderna provide earnings reports.