Company Interview / the open: ASX to rise after tariff talks

The local market looks set to begin the week on a positive note, with ASX futures up 0.2%. 

Global equity markets finished last week in mixed territory ahead of US-China tariff talks over the weekend, with President Trump referring to it as a total reset between the two largest economies. U.S. stocks ended lower on Friday, to be down slightly for the week. 

American ride-hailing company, Lyft increased its stock buyback program to $750 million and beat first-quarter profit estimates, signaling steady demand for its services. Meanwhile, Expedia’s shares slumped after the online travel platform missed quarterly revenue estimates. 

In the wake of trade talks between US and China, President Trump said setting 80% on Chinese goods “seems right” suggesting that he is willing to lower the current 145% levies he has imposed. 

Bitcoin rose over $US104,000 on Saturday morning, continuing its ascent. It was Bitcoin’s highest trading level since January 31, before slipping back. 

Oil prices rose on Friday to register their first weekly gain in a month as a U.S. trade deal with the United Kingdom turned investors optimistic ahead of talks between the US and China. Brent crude futures rose 1.7% to $63 a barrel, and iron ore jumped slightly to $98 a ton. 

Looking ahead this week, tomorrow the consumer confidence index for May and NAB’s business survey for April will both be released, and on Wednesday we will see the wage price index for the March quarter, followed by labour force data for April on Thursday.