Company Interview / the open: ASX set for lower start to the week

The local sharemarket is expected to start the week lower, with ASX futures descending 0.5 per cent, following a positive week prior. The S&P and Dow had an positive finish last week, whilst the Nasdaq had a strong session following President Trump indicating flexibility surrounding the new implementation of tariffs expected to be imposed in April. The S&P 500 gained 0.5% for the week, with the Nasdaq rising 0.17%, and the Dow climbing 1.2%. Meanwhile FedEX shares were down after the package transport company had cut its full-year profit forecasts, as uncertainty in the U.S economy continues. Nike also fell on Friday, following a sharper decline in revenue for the fourth-quarter than was initially anticipated by analysts. The US dollar continued to fall slightly against the euro and British pound, however saw an upside against yen. The Aussie currently sits at US 66.3 cents. Bitcoin had a slight rise for the week that concluded, amidst a tumultuous month. It is currency trading at around US $85,000. Locally, the federal budget will take place on Tuesday. Treasurer Jim Chalmers is expected to announce an underlying deficit of around $20 billion this year. An additional $850 million over four years expected to go into housing, as well as all households and a million small businesses anticipated to have $150 wiped from their power bills from July 1. Analysts further anticipate around $8 billion in additional stimulus specifically expanding electricity rebates. New Hope Corporation Ltd and NRW Holdings Ltd are amongst notable companies trading ex-dividend today.