ASX falls on banks after Trump tariffs; MinRes rebounds

Australian shares are set to open down as a raft of tariff statements and letters from US President Donald Trump extend his chaotic trade policy shift.
Trump granted a 90-day reprieve to Mexico, America's largest trading partner, while threatening its second-largest trading partner, Canada, because Ottawa outlined a plan to recognise Palestinian statehood.
The president also sent letters to most of the largest global drugmakers - including Merck, Pfizer, AstraZeneca, Novo Nordisk, GSK - demanding Americans get the best drug prices in the world for prescription drugs.
The tariff news took the wind out of a big technology rally powered by Meta Platforms and Microsoft, which briefly topped the $US4 trillion market cap mark. Meta was 11.3 per cent higher in New York, lifting its market cap to $US1.95 trillion.
Market highlights
ASX futures are pointing down 64 points or 0.7 per cent to 8639.
All US prices as of near 5.15pm New York time:
AUD -0.1% to US64.26
Bitcoin -0.4% to $US116,583
On Wall St: Dow -0.7% S&P -0.4% Nasdaq -0.03%
VIX +1.24 to 16.72
Gold +0.5% to $US3289.93 an ounce
Brent oil -1% to $US72.53 a barrel
Comex copper -22% to $US4.3545 a pound
Iron ore -2% to $US99.70 a tonne
10-year yield: US 4.37% Australia 4.26%
Today's agenda
There's a wide mix of data to be released on Friday, including Australia's July dwelling prices and second-quarter PPI. Overseas, there's June consumer confidence in NZ, Japan's June jobless rate, China PMIs and Eurozone CPI. The highlight will arrive late on Friday with July's US non-farm payrolls.
All that data, however, is poised to be trumped by the Trump administration's August 1 reciprocal tariff rate decision.
ResMed is the key corporate report scheduled for Friday.

Sumber : AFR