Company Interview / the open: ASX set to fall, following Wall Street drop

The local market is set to fall at the open with ASX futures down 0.4%, following a fall on Wall Street. 

The major indices finished in red on Wall Street, as tariffs weighed on equities. This is a result of President Trump saying that he would announce pharmaceutical tariffs over the next two weeks. 

Healthcare was the worst performing of the 11 major S&P sectors, with Eli Lilly and Company experiencing the largest fall. Further, Ford has suspended its full-year guidance, warning that auto tariffs will take a toll on profit, with the company’s total tariff impact forecast to be approximately $2.5 billion. 

Regarding commodities, oil prices have rebounded on signs of higher demand in Europe and China, along with increased geopolitical tensions with India launching attacks on militant targets in Pakistan. 

Brent futures rose 3.2%, settling at $62 a barrel. Whilst copper rose 1.6% and iron ore had a slight increase to $99. 

The US Federal Reserve will begin its two-day meeting today, anticipating to announce its rate decision Wednesday, whilst New Zealand unemployment figures are due.