Australian equities are poised to open lower on Friday as Wall Street closed lower as investors digested Nvidia's quarterly earnings and after US President Donald Trump decided to impose more tariffs on China.
Analysts believe that Nvidia's results were not good enough to justify its valuation. The tech giant closed down 8% Thursday.
In the ongoing tariff dispute, Trump said 25% tariffs on Canada and Mexico would go forward on March 4, and he would impose an extra 10% tariff on Chinese imports.
The Nasdaq Composite slid 2.8%, the S&P 500 closed 1.6% lower, and the Dow Jones Industrial Average fell 0.5%.
Investors will be looking forward to housing and private sector credit data at 11:30 am Sydney time.
In corporate news, Summerset Group Holdings (ASX:SNZ, NZE:SUM) reported that its 2024 earnings per diluted share fell to NZ$1.44 from $1.82 a year earlier.
Endeavour Group (ASX:EDV) reported that its earnings per diluted share in the fiscal first half fell to AU$0.167 from AU$0.196 a year earlier.
Australia's benchmark index rose 0.3% Thursday to close at 8,268.20.
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