The Australian sharemarket is set to turn lower on Monday after US President Donald Trump’s threat to impose major tariffs on the EU that have since been delayed sparked renewed selling on Wall Street.

ASX futures are pointing down 30 points, or 0.4 per cent, predicting the Index will reverse the prior session’s gains.

The Nasdaq dropped 1 per cent and the dollar hit its lowest level since 2023 on Friday (Saturday AEST) after Trump at the weekend suggested he would apply a steeper tax to European exports, describing trade talks with the bloc as “going nowhere”.

Trump said he would recommend a 50 per cent tariff on imports from Europe starting at the end of the month, before announcing on Sunday (Monday AEST) that deadline would be extended until July 9.

US futures are pointing to further falls this week, while gold soared almost 2 per cent as Trump’s remarked sparked fresh demand for haven assets.

Apple shares tumbled 3 per cent after Trump threatened to slap a 25 per cent tariff on iPhones if manufacturers including Samsung and Apple don’t move output to the US.

For local investors, focus will also turn to the interest rate outlook this week ahead of Wednesday’s April consumer price index data, which is tipped to show a decline in annual inflation to 2.3 per cent from 2.4 per cent.

Former data and analytics officer Andrew McMullan has joined in the newly created role of chief data, digital and AI officer.

’s Richard White has made his biggest acquisition ever, spending $US2.1 billion ($3.25) to buy Texas-based E2Open.

’ half-year profit more than doubled on the prior year, driven by higher livestock prices, improving sentiment and higher production margins.

has raised the lower end of guidance for its energy markets division to reflect “operational improvements and wholesale portfolio benefits” across the business. It also expects to record a $50 million hit to earnings from its stake in Octopus Energy.

will acquire Western Australia’s Laverton Gold Project from Focus Minerals for $250 million.

ASX futures are pointing down 30 points or 0.4 per cent to 8350.
All US prices are as of Sunday 5.15pm New York time.

• +0.5% to $US64.78 a barrel
• -1% to $US98.05 a tonne
• : 4.51% Australia 4.42%