US sharemarkets ended mixed on Friday, with the S&P 500 and Nasdaq Composite reaching fresh record highs as falling oil prices and strong earnings supported sentiment. The S&P 500 rose 0.29% to 7,230.12, while the Nasdaq Composite gained 0.89% to 25,114.44, with both indexes closing at record levels. The Dow Jones Industrial Average fell 152.87 points, or 0.31%, to 49,499.27.
Gains were led by technology, with Apple rising more than 3% after reporting better-than-expected earnings and issuing a stronger-than-expected revenue outlook. The result helped offset concerns around softer iPhone sales and provided support to broader equity markets.
Oil prices declined during the session after reports that Iran had responded to a US proposal via intermediaries, raising hopes of progress toward a resolution. However, Donald Trump later said he was not satisfied with the latest offer, limiting the decline in prices.
West Texas Intermediate crude fell 2.98% to US$101.94 a barrel, while Brent crude declined 2.02% to US$108.17.
The latest gains capped a strong month for equities, with the S&P 500 and Nasdaq posting their best monthly performances since 2020, supported by solid earnings and expectations of easing tensions in the Middle East.
Australian Market Outlook
Australian shares are set to open lower, with S&P/ASX 200 futures pointing to a decline of 23 points, or 0.26%.
The local market has been under pressure in recent sessions, with the ASX 200 closing lower in eight of the past nine trading days.
Attention is turning to the Reserve Bank of Australia’s upcoming policy decision, with markets pricing in a high probability of another rate increase. The outlook for interest rates remains a key driver of sentiment.
Investors will also be watching commentary from Michele Bullock for signals on the path of monetary policy, with expectations for further tightening through the remainder of the year.
