Market Wrap / winner takes it all

The S&P/ASX 200 traded lower this Friday, drawing back from recent record highs after the Trump tariffs kicked in overnight. 

Healthcare was among the hardest hit, with the sector falling 1.4%. Clarity Pharmaceuticals was one of the day’s worst performers, slipping 13.2%.

 Energy stocks also slipped, tracking weaker oil prices as markets reacted to news that Putin and Trump may meet, raising hopes for a diplomatic breakthrough in Ukraine.

Materials was the strongest sector amid higher gold prices and safe-haven bids with Northern Star rising 4%.

The end of the first week of reporting season saw QBE Insurance disappoint with its shares tumbling 8.8% and pulling the other insurers lower.

Block upgraded its FY25 profit forecast, boosted by growing Afterpay spending with its stock jumping 9.1%.

And furniture retailer Nick Scali soared 6.9% on strong second-half sales. 

Overnight, China releases July consumer and producer price data, with markets watching closely for further signs of deflationary pressure. Next week, all eyes will be on the RBA, which is expected to cut rates.