Company Interview / the open: ASX to slip as Trump tariffs loom

The ASX is expected to open lower, with futures pointing down 0.75%. This comes after a negative Wall Street session, in which the Dow Jones fell 0.74%, along with the S&P 500 falling 0.37%.

Apple and Amazon results after the bell were eagerly anticipated, particularly after Microsoft shares rallied on AI enthusiasm. The company briefly surpassed the $4 trillion dollar mark following in Nvidia's footsteps. After the bell, Apple crushed Wall St expectations, with iPhone sales staging a comeback, rising 13.5% and beating expectations. 

Meanwhile economic data from the Commerce Department report showed inflation picked up in June, with new tariffs pushing prices higher and stoking expectations that price pressures could intensify in the coming months. 

The US dollar is headed for its first monthly gain for 2025 against major currencies. The dollar rose against the Yen and is on track to gain about 5% for July. The Australian dollar, dropped slightly, currently trading at US64.3c.