Company Interview / the open: Trump tariffs in focus 💰 ASX to open higher

More volatility is expected on global markets after President Trump slapped a new 10% tariff on all imports to the US and upped that to 15%, following a US Supreme Court ruling striking down his tariff regime. The local market is set to open 0.18% higher. 

Amongst the companies reporting results locally, global plumbing supply group Reece has reported a 20% fall in first-half net profit while salary packaging and novated leasing group McMillan Shakespeare has posted a close to 10% increase in net profit for the half. 

US stocks advanced on Friday in response for the week, the S&P 500 rose just over 1%, the Nasdaq gained 1.5% and the Dow edged up 0.25%. In Friday's trade Alphabet, Amazon and Apple were among the best performing megacaps. 

Along with the tariffs being imposed, US President Trump has said he’s considering a limited military strike on Iran, dialing up the pressure on the regime to make a deal over its nuclear program. Brent crude prices rose in response, with futures closing at $72 a barrel.