ASX Preview: Australian Shares Set for Lower Open After Weaker-than-Expected US Retail Sales

MT Newswires Live

Feb 17, 2025

Australian equities are poised to open lower on Monday as the Dow Jones index fell after weak US retail sales data.

US retail sales fell 0.9% in January, against analysts' expected drop of 0.1% amid the impact of wildfires in California and a harsh winter.

The Nasdaq Composite rose 0.4%, the S&P 500 finished near even, and the Dow Jones Industrial Average ended 0.3% lower.

In corporate news, Freightways Group (NZE:FRW, ASX:FRW) reported Monday that its earnings per diluted share in the fiscal first half rose to NZ$0.25 from NZ$0.23 per diluted share a year earlier.

Westpac Banking (ASX:WBC, NZE:WBC) reported Monday that its net profit, excluding notable items, for the first quarter of fiscal 2025 was AU$1.9 billion, up 3% from the quarter average in the second half of fiscal 2024.

Australia's benchmark index edged up 0.2% Friday to close at 8,555.80.

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