Before the Bell: ASX to slip, Walmart slumps
Walmart fell more than 4 per cent after it missed quarterly profit estimates and flagged higher costs from tariffs.
Still, it was concern that Federal Reserve chairman Jerome Powell will temper hopes for a mid-September rate cut that weighed on sentiment. The probability of a quarter point cut next month fell to 73.5 per cent, according to the CME's FedWatch Tool. It was 82.4 per cent the previous day and it was 92.1 per cent a week ago.
Among the key results expected on Friday: Guzman Y Gomez and Monash IVF. Follow our reporting season coverage here.
Market highlights
ASX 200 futures are pointing down 11 points or 0.1 per cent to 8972.
All US prices near 3.30pm New York time.
Today's agenda
Jerome Powell speaks at the Kansas City Fed's annual gathering of global central bankers at Jackson Hole, Wyoming at 12am AEST Saturday.
Evercore ISI: 'We reiterate Powell – who faces fresh challenges with the attacks on governor [Lisa] Cook [by President Donald Trump and his allies] – is likely to remain careful and not precommit in advance to a September cut, which could disappoint some investors. Much of his speech may try to provide a steady medium to longer-term framing for policy strategy and inflation control.'
Powell's remarks will be streamed on the Kansas City Fed's YouTube channel, www.youtube.com/kansascityfed.
Top stories
Chalmers flags super tax raid to fix 'unfair' system | As the government's economic roundtable ends, the treasurer has confirmed tax reform is on the agenda, motivated to deal with intergenerational inequity.
| Participants with psychosocial disabilities could be taken off the scheme in the next phase of Labor's plans to cut its growth rate.
| There are fears the political heat has come off the Allan government to find savings in the budget.
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